Bloomberg analysts also suggested that the SEC are unlikely to appeal to the Supreme Court either.
If true, the SEC will need to review and make a decision on Grayscale's spot Bitcoin ETF application. If denied, Grayscale could appeal the decision.The U.S. Securities and Exchange Commission reportedly has no plans to appeal the recent court decision that favored Grayscale Investments. The ruling requires the SEC to review the firm’s spot Bitcoin into a spot Bitcoin ETF.
According to Reuters, the appeals court is expected to issue a mandate specifically outlining how its ruling should be “executed” by the SEC.“I do not think they will appeal to the Supreme Court either. Dialogue between Grayscale and SEC should begin next week. Hoping for more info on next steps sometime next week or week after?”2. No. I do not think they will appeal to the Supreme Court either.
3. Dialogue between Grayscale and SEC should begin next week. Hoping for more info on next steps sometime next week or week after?Moving forward, Seyffart suggested that it is likely that “we will find out in the next week ” what the deadline is for the SEC to approve or deny Grayscale’s spot BTC ETF application.As it stands, around seven spot Bitcoin ETF applications have been put before the SEC that are awaiting a decision from the regulator.
In a separate preceding X post on Oct. 13, Seyffart reiterated his view that there is a 90% chance that a spot Bitcoin ETF application will get approved in January 2024, specifically the application from Cathie Wood’s ARK Invest.Macro factors to spark next crypto bull market in Q2 2024, Real Vision’s Raoul Pal says
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