Grayscale Bitcoin ETF Battle
In September 2013, Grayscale launched Bitcoin Trust (GBTC);
In October 2021, Grayscale officially submitted an application to the SEC to convert the Bitcoin Trust into a Bitcoin Spot ETF;
In June 2022, the SEC rejected Grayscale’s application, stating that Grayscale failed to answer questions about market manipulation. At the same time, Grayscale filed a lawsuit against the SEC in court;
In August 2023, the U.S. court rejected the SEC’s order, and Grayscale’s review request was approved;
On October 14, 2023, Reuters reported that the SEC did not plan to appeal Grayscale’s ruling, but the SEC still has the right to reject Grayscale’s application for other reasons.
Bloomberg analysts said the SEC will take action to approve or deny Grayscale’s application within two weeks.
