Grayscale Chief Legal Officer Craig Salm said the US Securities and Exchange Commission (SEC) could soon give approval to Bitcoin exchange-traded funds (ETFs) should it lose the Grayscale lawsuit.

He estimates that ETF approvals could occur in October if the judge issues a decision on Grayscale’s lawsuit within the next month.

Grayscale Could Lead to Major TradFi ETF Approvals

According to Salm, several companies await rulings on applications whose approval could be catalyzed by a Grayscale victory. 

Last year, Grayscale sued the SEC for rejecting its application to convert the Grayscale Bitcoin Trust into a spot ETF.  It hired former Obama lawyer Donald B. Verrilli Jr. to argue the SEC’s ruling was ‘arbitrary and capricious’ for rejecting an application citing the same Bitcoin price reference as several approved Bitcoin futures ETFs.  

If Grayscale wins, GBTC shareholders can align the trust’s shares with Bitcoin’s net asset value.

Go to Source to See Full Article
Author: David Thomas

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details