The discount narrowed to 35% following the hearing where a panel of appeals court judges appeared skeptical about the SEC's arguments over rejecting Grayscale’s bid to convert GBTC into an ETF. LedesmaLyllah reports
where a panel of appeals court judges appeared skeptical about the U.S. Securities and Exchange Commission's arguments in rejecting Grayscale’s bid to convert its GBTC into an exchange-traded fund .
The judges questioned the SEC's logic in distinguishing between bitcoin spot market prices and futures market prices.. Grayscale’s argument is the SEC acted arbitrarily in rejecting the ETF application and previously approving bitcoin futures ETFs.
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