Will the SEC delay grayscale's spot bitcoin ETF conversion?

While many observers don’t believe the securities regulator will attempt to appeal the court’s decision, analysts say there could still be ways for the SEC to delay approval of Grayscale’s spot Bitcoin ETF conversion.

Is grayscale a spot bitcoin ETF?

The SEC last year denied Grayscale's application to convert its spot Grayscale Bitcoin Trust (GBTC.PK) into an ETF, listed on the New York Stock Exchange's Arca market. While the agency has rejected spot bitcoin ETFs, it has approved bitcoin futures ETFs, which track agreements to buy or sell bitcoin at a pre-agreed price.

Was the SEC wrong to reject grayscale Bitcoin Trust?

A federal appeals court in Washington DC on Tuesday ruled the Securities and Exchange Commission was wrong to reject Grayscale’s application to convert its flagship vehicle — Grayscale Bitcoin Trust — into an ETF.

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