Bitcoin

Circuit

Grayscale Bitcoin Trust

Spot

<ul>
 <li>The approval has the ability to boost demand and prices for BTC.</li>
 <li>Fidelity’s move demonstrates the firm’s confidence in the viability of digital assets.</li>
</ul>
The SEC decided last Friday not to challenge a recent setback in the D.C. Circuit Court of Appeals. Grayscale Investments wanted to turn the Grayscale Bitcoin Trust (<a href="https://thenewscrypto.com/bitcoin-news-grayscales-legal-win-boosts-gbtc-shares-by-a-whopping-17/" target="_blank" rel="noopener noreferrer nofollow">GBTC</a>) into an ETF, but the SEC denied their application.
Since the <a href="https://thenewscrypto.com/judge-addresses-multiple-pending-motions-in-binance-vs-sec-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> did not appeal the decision, the court will overturn the SEC’s rejection of Grayscale. Ultimately, the agency’s decision to permit the application must be revisited. Although the SEC might potentially reject Grayscale again for reasons not addressed by the court, industry experts anticipate that the agency will ultimately approve the product.
Since ETFs are a low-cost, low-risk, and high-transparency regulatory wrapper, the introduction of spot bitcoin ETFs in the US might pave the way for larger institutional participation in the cryptocurrency sector.
<h3 class="wp-block-heading" id="h-novel-investment-strategies">Novel Investment Strategies</h3>
On the other hand, the “Wise Origin Bitcoin Trust” Bitcoin spot ETF proposal was resubmitted to the U.S. SEC by <a href="https://www.fidelity.com/" target="_blank" rel="noopener noreferrer nofollow">Fidelity Investments</a>. The new plan is an attempt to appease the regulator’s concerns with an updated proposal.
The spot Bitcoin ETF approval would allow investors not to worry about keeping the cryptocurrency safe or in their possession. This straightforward option gives large financial institutions a less risky way to participate in the exciting but speculative cryptocurrency sector.
Fidelity’s move demonstrates the firm’s confidence in the continued growth and viability of digital assets over the long run. It also satisfies the increasing interest of customers in novel investment strategies.
The crypto community awaits the results of spot Bitcoin ETF approval by the SEC with great interest. Its approval has the ability to boost demand and prices for <a href="http://bitcoin.org" target="_blank" rel="noopener noreferrer nofollow">BTC</a> and other cryptocurrencies by attracting institutional investors and encouraging widespread adoption.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/btc-continues-to-surge-in-hopes-of-bitcoin-etf-will-it-cross-30000/" target="_blank" rel="noopener noreferrer nofollow">BTC Continues to Surge in Hopes of Bitcoin ETF. Will it Cross $30,000?</a>

Fidelity Investments Resubmits Updated Application for Spot Bitcoin ETF

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