SEC Chair Gary Gensler said his agency was reviewing multiple Bitcoin ETF applications. But he didn't comment on the Grayscale court case.
Gensler added that applicants must ensure that they go through a filing process that is similar to a public offering. He also said that the SEC staff responded and provided feedback to potential issuers.
However, he did not comment on whether the regulatory body would potentially approve one ETF or wait to approve everything in the group if such approval is received.In August, the court ruled that the regulator’s decision to reject Grayscale’s spot Bitcoin ETF application was “arbitrary and capricious”. Itlast week that the regulator had decided not to contest the judgment. The SEC now needs to revisit its decision.ETFs.
Since the court deemed the SEC’s order unlawful, there was no need to file again, the lawyers must have argued. On the other hand, the SEC might have been asking Grayscale to submit an amended filing. Now, I ultimately don’t know where this ends up, but I suspect strongly Grayscale is using this as a point of leverage in discussions with the SEC . And the SEC likely requesting they refile.The SEC has approved a number of Bitcoin futures ETFs since 2021. However, it is yet to approve any spot Bitcoin ETF.Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times.
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