An Appealing Case for a Rally
Oct 12, 2023
• 6
Min Read
SEC Deadline Looms
Back in August, a court sided with Grayscale, accusing the SEC of acting in an “arbitrary and capricious manner” when it denied their spot Bitcoin ETF application. Since then, the SEC's options have narrowed to the following:
- Appeal the court's decision within a 45-day window.
- Develop a new rationale for rejecting spot Bitcoin ETFs.
- Consider revoking existing approvals for futures-based ETFs as justification for denying spot ETFs.
- Conform to the judicial ruling by approving the spot Bitcoin ETFs, thereby avoiding further legal issues.