Grayscale has wanted to convert its Bitcoin fund into a Bitcoin ETF since 2016.
SEC has filed a case denying the conversion.
SEC filed a 73-page brief with the US Court of Appeals on December 9.
Everything is not going smoothly for Grayscale, as the United States Securities and Exchange Commission (SEC) is taking steps to stop the Grayscale Investments’ effort to launch their Bitcoin Exchange Traded Fund (ETF). Grayscale was in a legal battle with the SEC when the authority denied the investment product in June 2022.
SEC had filed a 73-page brief on December 9 with the US Court of Appeals, District of Columbia Circuit, where the commission laid out the reasons for their denial of Grayscale’s request for converting their Grayscale Bitcoin Trust (GBTC) into spot Bitcoin ETF.
The SEC is looking up to the D.C. Circuit for denial of Grayscale’s appeal, claiming the proposed funds are constitutionally different from futures ETFs, and the same has been proven in the past.
Th
We współpracy z: https://www.thecoinrepublic.com/2022/12/14/grayscale-bitcoin-etf-might-not-happen-sec-intercepts/
