Grayscale’s ETF Case With SEC Will Be Heared Today! What Does It Mean for Bitcoin?

bitcoin fund grayscale’filed against the SEC GBTCThe trial of converting . to an ETF will take place today.

As known SEC GBTC, Grayscale’s largest investment tool spot Bitcoin ETFHe rejected his application to convert to .

Upon this refusal, Grayscale also filed a lawsuit against the SEC and asked the federal appeals court to overturn this arbitrary refusal by the SEC.

BloombergA positive decision in the SEC-Grayscale case will have major implications for the cryptocurrency industry.

Because while this decision could pave the way for similar spot ETFs, it could also help expand the market by enabling retail investors to enter the crypto market.

Evaluating this case and the impact of a possible positive decision on the crypto market Georgetown University Professor of Finance James Angel He told Bloomberg:

“Allowing a spot ETF means it will make it easier for everyone to now have reliable exposure to Bitcoin.”

Stein, an analyst at Bloomberg Intelligence, estimated that Grayscale’s chance of winning the lawsuit was only 40% and said:

“The Court will not be putting itself in the SEC’s shoes and doing a due diligence check. The shape will do a review.

While a custody sharing agreement in a futures market like the CME is sufficient to detect fraud and manipulation in a futures-based ETF, it is unclear to us whether it will do the same for a spot-based ETF.

Bitcoin spot prices are the basis for both types of ETFs.”

Against the Bloomberg analyst’s thoughts, Grayscale seems confident they can persuade the court to overturn the SEC’s decision.