U.S. Court of Appeals yet again failed to make decision on paramount Grayscale v. SEC case
However, commentators expect the verdict to be out on Tuesday, Aug. 22, at the earliest. Some of them even commented ironically that there is no need to make these"useless" announcements twice a week.
In June 2022, Grayscale took America's financial regulator, the SEC, to court, following its vocal failure to greenlight the reintroduction of Grayscale Bitcoin Trust , a flagship Grayscale product, into the first spot Bitcoin ETF.proposals.In the past week, the price of the GBTC share dropped from $20.12 to $17.64, losing over 12.3% amid a painful recession and regulatory uncertainty on Bitcoin markets.
At the same time, the Grayscale team is highly optimistic about its prospects in its legal battle with the U.S. SEC. The asset management giant is hiring a senior associate for its ETF unit.
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