SEC reportedly won’t appeal court decision on Grayscale Bitcoin ETF

October 14. 2023

By Brian Quarmbary

The United States Securities and Exchange Commission reportedly has no plans to appeal the recent court decision that favored Grayscale Investments. The ruling requires the SEC to review the firm’s spot Bitcoin

(BTC $26,880) exchange-traded fund (ETF) application.

The SEC’s supposed decision not to appeal the U.S. Court of Appeals for the District of Columbia Circuit ruling was highlighted in an Oct. 13 report from Reuters, which cited “a source familiar with the matter.”

Bloomberg analysts also expect the SEC not to appeal to the Supreme Court but emphasized that this doesn’t necessarily mean Grayscale’s application is set to be approved.

If the reports are true, the SEC will need to follow the court’s August order and review Grayscale’s application to change its Grayscale Bitcoin Trust into a spot Bitcoin ETF.

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