The SEC seeks advice of organizations and officials related to the approval of the Winklevoss twins’ Bitcoin ETF to get independent insight.
The Grayscale lawsuit against the SEC specifies that the company believes the Commission has no real grounds to deny the spot ETF request.
Grayscale CEO has been pressing hard for the SEC to approve its spot Bitcoin ETF application. If the SEC decided otherwise, Grayscale is ready to take up a legal battle with the securities regulator.
The ProShares Short Bitcoin Strategy ETF (BITI) will allow users to profit from Bitcoin’s declining prices. It will also provide users with a hedge to their crypto exposure via an ETF.
Although Grayscale remains upbeat about the future, GBTC’s performance has been the subject of criticism by market experts, channeling the blame at regulators for what they see as an inaccurate risk assessment.
21Shares CEO Hany Rashwan earlier disclosed that the approval of the ARK 21Shares Bitcoin ETF would be a big win for the crypto industry.
Grayscale Investments stated in its SEC meeting report that GBTC has expanded to accommodate more than 865,000 investors.
The SEC’s approval for a GBTC Bitcoin spot ETF is a “matter of ‘when’ and not ‘if’”, according to Grayscale CEO Michael Sonenshein.
In January the asset management company also filed with the SEC for approval on a Web 3-focused ETF.
The first Australia Bitcoin ETF will not take the usual route like other ETFs. Rather than investing directly in Bitcoin, the Fund will invest in shares of Purpose Investment’s Bitcoin ETF.
The SEC announced the approval in a filing on its website, adding Teucrium to a host of other bitcoin futures ETF issuers, just days after rejecting a spot Bitcoin ETF application from Cathie Wood-run ARK Investment Management LLC.