{"id":24158,"date":"2023-10-24T05:29:47","date_gmt":"2023-10-24T05:29:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/court-clears-path-for-grayscales-spot-bitcoin-etf-conversion\/"},"modified":"2023-10-24T05:29:47","modified_gmt":"2023-10-24T05:29:47","slug":"court-clears-path-for-grayscales-spot-bitcoin-etf-conversion","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/court-clears-path-for-grayscales-spot-bitcoin-etf-conversion\/","title":{"rendered":"Court Clears Path for Grayscale&#8217;s Spot Bitcoin ETF Conversion"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The U.S. Securities and Exchange Commission (SEC) finds itself back at the drawing board, mandated to re-evaluate its earlier rejection of Grayscale\u2019s proposal to transition its Grayscale Bitcoin Trust (GBTC) to a spot ETF. This development emerges after the D.C. Circuit Court of Appeals stamped its authority on the matter, ruling in favor of Grayscale.<\/p>\n<p>Two months prior to this formal case closure, the court had pointed out that the SEC acted without sound reason when it declined Grayscale\u2019s $17 billion GBTC spot ETF transition. The SEC <a href=\"https:\/\/igaming.org\/crypto\/sec-drops-grayscale-appeal\/\">decided against challenging<\/a> this preliminary ruling.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Now, the responsibility is once again on the SEC to decide on the fate of Grayscale\u2019s application. The regulatory body could either give the green light or turn it down based on different justifications. Beyond Grayscale, the SEC is also juggling decisions regarding several spot bitcoin ETF applications from other major players, such as BlackRock, Fidelity, and Franklin Templeton.<\/p>\n<p>Jennifer Rosenthal, a spokesperson for Grayscale, conveyed the firm\u2019s commitment post the case\u2019s resolution on Monday. She stated, \u201cGBTC is operationally ready, and we intend to move as expeditiously as possible on behalf of our investors.\u201d She also expressed the team\u2019s enthusiasm about collaborating positively with the SEC throughout the conversion process.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/court-clears-path-for-grayscales-spot-bitcoin-etf-conversion\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The U.S. Securities and Exchange Commission (SEC) finds itself back at the drawing board, mandated to re-evaluate its earlier rejection of Grayscale\u2019s proposal to transition its Grayscale Bitcoin Trust (GBTC) to a spot ETF. This development emerges after the D.C. Circuit Court of Appeals stamped its [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":24159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24158"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24158"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24158\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24159"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}