spot_imgspot_imgspot_img

Grayscale’s New SEC Letter: A Game-Changer for Bitcoin ETF?

  • Grayscale, the world’s largest digital asset management firm, has submitted a new official letter to the court in its lawsuit with the SEC.
  • The SEC’s refusal to accept the GBTC ETF has been criticized in the letter sent to the lawsuit panel opened in the Columbia District Court of Appeals.
  • The SEC had rejected Grayscale’s request to convert its famous GBTC product into an ETF last year, alleging that the product was susceptible to fraud and manipulation.

Grayscale Continues Legal Battle with SEC Over GBTC ETF

Grayscale’s New Official Letter to the Court

Grayscale, recognized as the world’s premier digital asset management firm, has taken a new step in its ongoing legal dispute with the Securities and Exchange Commission (SEC). The firm has submitted a fresh official letter to the court, marking the latest development in a case that has drawn significant attention within the cryptocurrency community.

Criticizing the SEC’s Refusal to Approve GBTC ETF

In the letter, Grayscale expresses its dissatisfaction with the SEC’s refusal to approve its Grayscale Bitcoin Trust (GBTC) as an exchange-traded fund (ETF). This refusal has been a point of contention since last year when the SEC rejected Grayscale’s request to convert its renowned GBTC product into an ETF. The firm’s letter to the lawsuit panel opened in the Columbia District Court of Appeals criticizes the SEC’s stance on this matter.

The SEC’s Allegations and Grayscale’s Response

The SEC had justified its refusal by alleging that Grayscale’s GBTC product was prone to fraudulent activities and manipulation. The commission has consistently maintained that futures-based Bitcoin ETFs are much safer than spot ones, and has so far rejected all requests for spot Bitcoin ETFs. Grayscale, however, disputes these allegations. The firm argues that the SEC’s approval of leveraged Bitcoin ETFs reveals an arbitrary and differential approach, as these products pose a greater risk to investors than the product Grayscale is proposing.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Fed Agenda in the Bitcoin Market: According to Bianco, Interest Rates Won’t Be Lowered Before This Date!

What will the Federal Reserve do in its next move? According to Bianco's research, there may not be an interest rate cut before September!

Bitcoin and Altcoin Investment Products Witness $5.7 Billion Inflow!

Bitcoin and cryptocurrency investment products recorded a massive influx of funds, with increasing demand for Spot Bitcoin ETFs leading the way!

MicroStrategy Acquires 3,000 Bitcoin: Latest Status of the Company’s Assets!

Michael Saylor announced that MicroStrategy company purchased Bitcoin. The company's total assets exceeded 190K BTC.

Historic $1.3 Billion Bitcoin Transaction Sparks Debate on Crypto Valuation

A recent colossal Bitcoin transaction has reignited discussions about Bitcoin's valuation, comparing historical trades and pondering the future of currencies in the digital age.

Ethereum Dencun Upgrade is Approaching: Which Layer 2 Tokens Stand Out?

With Ethereum's Dencun upgrade approaching, tokens of Layer-2 DeFi platforms on Ethereum have started to gain attention.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Marisol Navaro
Marisol Navarohttps://en.coinotag.com/
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Fed Agenda in the Bitcoin Market: According to Bianco, Interest Rates Won’t Be Lowered Before This Date!

What will the Federal Reserve do in its next move? According to Bianco's research, there may not be an interest rate cut before September!

Bitcoin and Altcoin Investment Products Witness $5.7 Billion Inflow!

Bitcoin and cryptocurrency investment products recorded a massive influx of funds, with increasing demand for Spot Bitcoin ETFs leading the way!

MicroStrategy Acquires 3,000 Bitcoin: Latest Status of the Company’s Assets!

Michael Saylor announced that MicroStrategy company purchased Bitcoin. The company's total assets exceeded 190K BTC.