Bitcoin

<div class="watcher-guru"> 
 <p>In a new development in the ongoing push for a bitcoin exchange-traded fund (ETF), crypto asset manager Grayscale has won its legal battle against the Securities and Exchange Commission (SEC).</p> 
 <p>On Wednesday, the US Court of Appeals ruled in favor of Grayscale, stating that the SEC must review its previous rejection of the firm’s application to convert its Bitcoin Trust into an ETF. The court vacated the rejection, ordering the agency to reevaluate the decision.</p> 
 <p><strong>Also read: Crypto Asset Manager Grayscale Wins Lawsuit Against the SEC</strong></p> 
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div> 
 </div> 
 <h2 class="wp-block-heading" id="h-grayscale-s-victory-could-open-the-door-for-bitcoin-etfs">Grayscale’s victory could open the door for Bitcoin ETFs</h2> 
 <figure class="wp-block-image size-large">
  <img decoding="async" width="1024" height="538" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="" class="wp-image-68275 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp.webp 300w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp.webp 768w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp.webp 380w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp.webp 550w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp.webp 800w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp.webp 1160w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp.webp 1200w" data-srcset-img="https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 1024w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 300w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 768w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 380w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 550w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 800w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 1160w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 1200w" data-eio="j">
  <noscript>
   <img decoding="async" width="1024" height="538" src="https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp" alt="" class="wp-image-68275" srcset="https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 1024w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 300w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 768w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 380w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 550w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 800w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 1160w, https://cdn.thebittimes.com/images/2023/08/31/a4e0901bc5e03a354093a0d2b0bb9362.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  </noscript>
  <figcaption class="wp-element-caption">
   Source: CryptoSlate
  </figcaption>
 </figure> 
 <p>This ruling opens the door for the creation of the first bitcoin ETF, analysts said in a new report from broker Bernstein. While it does not immediately greenlight Grayscale’s GBTC product to become an ETF, it puts pressure on the SEC to approve one of the many proposed bitcoin ETF applications currently pending review.</p> 
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div id="primisContainer" class="add"></div> 
 </div> 
 <p>Analysts predict likely approval dates could start as soon as next week and continue into early 2024 as applications go through the multi-step SEC review process.</p> 
 <p>The possibility of SEC-approved bitcoin ETFs has been a hot topic in crypto for years. Proponents argue an ETF would allow more mainstream investors to gain exposure to bitcoin through traditional investment accounts.</p> 
 <p>However, the SEC has consistently rejected applications up until this point, citing concerns about volatility and the potential for manipulation. Wednesday’s court ruling signals a shift in the prolonged struggle for regulatory approval.</p> 
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div> 
 </div> 
 <p></p> 
</div> 
<div class="cs-entry__tags">
 <ul>
  <li>Bitcoin ETF</li>
  <li>GrAYSCALE</li>
  <li>sec</li>
 </ul>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/grayscale-beats-sec-in-court-bitcoin-etf-chances-improve-tbt60997.html">https://thebittimes.com/grayscale-beats-sec-in-court-bitcoin-etf-chances-improve-tbt60997.html</a></p>

Grayscale Beats SEC in Court, Bitcoin ETF Chances Improve

Table of Contents

TheBitTimes

Other articles published on Aug 30, 2023

How Luxury Brands Are Using Blockchain Tech, AI to Fight Counterfeits

Visa Stock Fundamentals: Is the Stock Expected to Rise?

Google is planning to update the service following EU rules

YPRED Presale Now Open: Here's Why This Token Will Transform AI-Driven Trading

Dogecoin Price Surges Amid Market Developments and Liquidations

3 Coins Eying Massive Price Jumps in Next Bull Rally

Join our free newsletter for daily crypto updates!