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Federal Judge Rules in Favor of Grayscale against the U.S. Securities and Exchange Commission

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the staff of the Ridgewood blog

Ridgewood NJ, a US federal court ruled that the SEC acted unfairly in denying Grayscale’s request to turn its Grayscale Bitcoin Trust product into an ETF. The long-awaited decision gave a big boost to prices across the board in the crypto market and even to crypto-related public equities like Coinbase. While the ruling was favorable, it still doesn’t guarantee immediate ETF approvals. Not only does this help Grayscale’s case as it tries to launch an ETF, but it also likely increases the chances that the spot BTF applications from TradFi giants like Blackrock and Fidelity will go through as well.

The Grayscale Bitcoin Trust (GBTC) is a financial product offered by Grayscale Investments that allows investors to gain exposure to Bitcoin without directly owning the cryptocurrency. It functions as a trust that holds Bitcoin and issues shares to investors, making it a way for traditional investors to invest in Bitcoin through their brokerage accounts. GBTC has become a popular investment vehicle for those looking to add Bitcoin to their portfolios, but it typically trades at a premium or discount to the actual Bitcoin price, which can impact returns. It’s essential for investors to understand the mechanics and potential risks associated with GBTC before investing.

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