SEC Holds Back from Appealing Court Decision on Grayscale Bitcoin ETF: Report

The United States Securities and Exchange Commission has exceeded its mid-October deadline to refute Grayscale’s court win for the approval of a spot Bitcoin exchange-traded fund .The legal tussle between the American regulator and the asset management firm dates back to last year. Grayscale applied with the SEC, requesting the conversion of its flagship product, Grayscale Bitcoin Trust , into a spot Bitcoin ETF.

However, it does not directly imply that the long-awaited spot Bitcoin ETF will be endorsed within the country. Jennifer Schulp, the director of financial regulation studies at the Cato Institute’s Center for Monetary and Financial Alternatives, reiterated this when she said:

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