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Grayscale wins the court battle, but what does this mean for a spot Bitcoin ETF?

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Crypto industry leaders and legal experts are implying Grayscale may now have the upper hand with the SEC over its ETF application following an appeals court ruling.

, including those from BlackRock, ARK Invest, Bitwise Asset Management, VanEck, WisdomTree, Invesco and Galaxy Digital, Fidelity and Valkyrie. The commission has the means to keep delaying a decision or otherwise pushing the final deadline for approval on the majority of the aforementioned applications until March 2024.

“Despite the inevitable SEC appeal, to our mind there is no doubt now, spot BTC ETFs are coming to the U.S.,” said Tim Bevan, CEO at ETC Group. “We don’t believe the SEC will act as kingmaker and the most likely outcome is a block approval of applications that meet requirements, probably in Q1 ’24.”

 

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