Finance Chief Ed McGee discusses the crypto asset manager’s legal win over the SEC and the vagaries of demand for what would be the first spot bitcoin ETF in the U.S.
In August, a federal appeals court ruled that the SEC needed to reconsider Grayscale’s application to launch its first bitcoin ETF.Grayscale Investments is preparing to roll out its first bitcoin exchange-traded fund pending Securities and Exchange Commission approval after a legal victory overturning the regulator’s rejection of its application.to convert its bitcoin trust into a spot bitcoin ETF.
A panel of judges said the company showed that its proposed bitcoin ETF is materially similar to futures-based bitcoin ETFs that have been previously approved. The ruling marked a pivotal setback for the SEC, which has been focused on regulating the crypto industry.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.
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