Grayscale Sues SEC For Denying Spot Bitcoin ETF

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  • Grayscale Investments is suing the SEC for denying its application to convert GBTC into an ETF.
  • The filing was submitted yesterday evening by the former top legal mind that served in the Obama administration as U.S. solicitor general.
  • Over 11,000 comment submissions were sent to the SEC by investors, 99% of which were positive towards the transition of GBTC into an ETF.

Grayscale Investments, one of the world’s largest digital asset managers, is suing the U.S. Securities and Exchange Commission (SEC) after the regulator denied its application to convert its flagship bitcoin fund, GBTC, into an exchange-traded fund (ETF), per a press release

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