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 <p>Crypto asset manager Grayscale recently won a legal case against the Securities and Exchange Commission (SEC) regarding a proposed spot bitcoin exchange-traded fund (ETF).</p> 
 <p><strong>Also read:&nbsp;Crypto Asset Manager Grayscale Wins Lawsuit Against the SEC</strong></p> 
 <p>Earlier, the SEC rejected the crypto asset manager’s application regarding the <a rel="dofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>. However, the US Court of Appeals ruled that the SEC must re-evaluate its initial rejection of Grayscale’s ETF application. Following the major win, Grayscale CEO Michael Sonnenshein recently sat down with Bloomberg News to share his views on the win.</p> 
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    <p lang="en" dir="ltr">JUST IN: Grayscale now closer to a Spot #<a rel="dofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> launch after winning its lawsuit against the SEC, Bloomberg reports. pic.twitter.com/sGfsjHC17h</p>— Watcher.Guru (@WatcherGuru) August 30, 2023
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 <h2 class="wp-block-heading" id="h-grayscale-is-moving-closer-to-a-spot-bitcoin-etf">Grayscale is moving closer to a spot Bitcoin ETF</h2> 
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 <p>During his conversation, Sonnenshein stated that yesterday’s win was the result of a year’s worth of litigation. He stated that the SEC denied GBTC’s conversion to an ETF, after which Grayscale immediately filed a lawsuit. Grayscale’s CEO mentioned that forty months later they got a positive decision from the DC Circuit. He also highlighted that a panel of three judges unanimously voted against the SEC’s denial order.</p> 
 <p>While speaking of the chances of a potential move by the SEC to fight the decision, Sonnenshein mentioned that today is day one of the 45-day period that the SEC has the ability to request a rehearing. He stressed that ultimately, at the end of the 45-day process, the company can expect a final mandate from the court with the next steps.</p> 
 <p>Grayscale CEO also highlighted an interesting fact: the court agreed with the arguments that were put forward. He also added that the SEC already has the tools and means to approve a spot Bitcoin product like GBTC.</p> 
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  <li>Bitcoin ETF</li>
  <li>GrAYSCALE</li>
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/grayscale-now-closer-to-a-spot-bitcoin-etf-launch-report-tbt60987.html">https://thebittimes.com/grayscale-now-closer-to-a-spot-bitcoin-etf-launch-report-tbt60987.html</a></p>

Grayscale Now Closer To a Spot Bitcoin ETF Launch: Report

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