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Grayscale Bitcoin Trust

In a significant development in the crypto investment world, the United States Court of Appeals has issued a formal mandate, solidifying its decision to have the Securities and Exchange Commission (SEC) reevaluate Grayscale Investments‘ application for a spot Bitcoin exchange-traded fund (ETF). 
This mandate, which came into effect on October 23, follows the Court’s initial ruling on August 29 and the SEC’s omission to file an appeal by the deadline of October 13. 
The October 23 mandate reaffirms the Court’s decision from August 29, granting Grayscale a renewed opportunity to transform its Grayscale Bitcoin Trust into a listed Bitcoin ETF. 
This marks a pivotal juncture in Grayscale’s pursuit, as the SEC has thus far refrained from approving any spot crypto ETF for listing on U.S. exchanges. Notably, the SEC has greenlit investment vehicles associated with Bitcoin and Ethereum futures. 
It is worth noting that on October 19, Grayscale took an assertive step by submitting a registration statement to the SEC, with the aim of listing shares of its Bitcoin trust on the New York Stock Exchange Arca under the ticker symbol GBTC. 
Grayscale joins other prominent entities like BlackRock, ARK Investment, and Valkyrie, who also have applications for spot crypto ETFs awaiting review by the SEC. The crypto investment landscape in the United States remains in the spotlight, with the fate of these applications poised to reshape the sector’s future. 
The post <a rel="nofollow" href="https://www.unlock-bc.com/110762/u-s-court-mandates-sec-review-of-grayscales-bitcoin-etf-proposal/">U.S. Court Mandates SEC Review of Grayscale’s Bitcoin ETF Proposal</a> appeared first on <a rel="nofollow" href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

U.S. Court Mandates SEC Review of Grayscale’s Bitcoin ETF Proposal

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