SEC nixes plans to appeal Grayscale Bitcoin ETF decision
The Securities and Exchange Commission (SEC) will not contest a court ruling favoring Grayscale’s proposed spot Bitcoin exchange-traded fund (ETF). An Oct. 14 update from Bloomberg citing an inside source has revealed that the SEC has chosen not to appeal the District of Columbia Court of Appeals’ decision from August, which argued that the regulator had erred in dismissing Grayscale’s Bitcoin exchange-traded fund application. The SEC isn’t planning to ask a federal appeals court to reconsider a ruling that paved the way for Grayscale to launch a spot Bitcoin ETF https://t.co/P89YwCXC2f — Bloomberg Crypto (@crypto) October 13, 2023 The case has been under the industry’s microscope as various players in the financial landscape have vied for the approval of spot Bitcoin ETFs in recent times. The SEC’s surprising move to step back may well set the stage for a comprehensive review of Grayscale’s proposal. The investment giant’s propo...