More
    HomeBitcoinGrayscale CEO Says They're "Ready For The Main Event", Awaiting Spot Bitcoin...

    Grayscale CEO Says They’re “Ready For The Main Event”, Awaiting Spot Bitcoin ETF Approval

    Published on

    DIGITAL MARKETING SERVICES

    spot_img
    Grayscale CEO Says They’re “Ready For The Main Event”, Awaiting Spot Bitcoin ETF Approval

    Grayscale CEO Michael Sonnenshein took to X (Twitter) Monday morning to say “it’s been a ten year dress rehearsal. we’re ready for the main event,” ahead of seemingly imminent approval for the conversion of its flagship fund into a spot Bitcoin ETF.

    On June 29, 2022, Grayscale filed a lawsuit against the SEC for denying its spot Bitcoin ETF conversion. Since then, Grayscale won its lawsuit against the SEC, with the regulator then deciding not to appeal the court decision after. Ten days later, the US Court of Appeals issued a mandate that the SEC must re-review Grayscale’s spot Bitcoin ETF application.

    Approval of a spot ETF by the SEC appears almost certain, with Grayscale’s chief legal officer recently saying that a spot Bitcoin ETF approval is “a matter of when, not a matter of if anymore.” JPMorgan also commented back in September, saying that the SEC will likely be forced to approve spot Bitcoin ETFs, following Grayscale’s victory in court.

    Last week, it was highlighted by Bloomberg ETF analyst James Seyffart that a brief window of opportunity for the SEC to approve all 12 spot Bitcoin ETF filings, including Grayscale’s GBTC conversion. This window opened up last Thursday and will remain open for at least eight days, with this being the last chance of approval for a spot Bitcoin ETF in the US in 2023.

    While it’s possible the batch of spot Bitcoin ETFs get approved this week, it is seemingly unlikely. “If we are indeed going to see Bitcoin ETF approvals for this wave, I think it’s more likely to happen closer to January than this current window,” said Seyffart.

    Bitcoin is up 122% year to date, at the time of writing, on the speculation of the first spot ETF approval in the United States, in addition to the upcoming halving in 2024. 

    Go to Source
    Autor: Nik Hoffman

    COMMUNITY

    spot_img

    SITE VISITS

    Map

    Latest articles

    BlockDAG Targets Stellar Growth With 15,000 TPS Amid Ethereum’s Market Surge And Polygon’s Price Challenges

    BlockDAG Targets Stellar Growth With 15,000 TPS Amid Ethereum’s Market Surge And Polygon’s Price...

    Binance Unveils New ‘Megadrop’ Token Launch Platform, Picks Bitcoin Restaking Chain To Serve As First Project

    Binance is unveiling a new “megadrop” token launch platform with Bitcoin (BTC) “restaking” chain...

    Crypto Analyst Issues Cardano Alert, Warns ADA Could Crash by up to 74% – Here’s His Outlook

    A cryptocurrency analyst and trader is expressing bearish sentiment on Cardano (ADA). In a new...

    DTX Exchange (DTX) Expected Listing in Q2 2024, Investors From Cardano (ADA) and Ripple (XRP) Join Presale

    DTX Exchange (DTX) Expected Listing in Q2 2024, Investors From Cardano (ADA) and Ripple...

    More like this

    BlockDAG Targets Stellar Growth With 15,000 TPS Amid Ethereum’s Market Surge And Polygon’s Price Challenges

    BlockDAG Targets Stellar Growth With 15,000 TPS Amid Ethereum’s Market Surge And Polygon’s Price...

    Binance Unveils New ‘Megadrop’ Token Launch Platform, Picks Bitcoin Restaking Chain To Serve As First Project

    Binance is unveiling a new “megadrop” token launch platform with Bitcoin (BTC) “restaking” chain...

    Crypto Analyst Issues Cardano Alert, Warns ADA Could Crash by up to 74% – Here’s His Outlook

    A cryptocurrency analyst and trader is expressing bearish sentiment on Cardano (ADA). In a new...
     - 
    Arabic
     - 
    ar
    Bengali
     - 
    bn
    German
     - 
    de
    English
     - 
    en
    French
     - 
    fr
    Hindi
     - 
    hi
    Indonesian
     - 
    id
    Portuguese
     - 
    pt
    Russian
     - 
    ru
    Spanish
     - 
    es