SEC Still Weighing On Bitcoin ETF Proposals As Grayscale Lawsuit Continues
The post SEC Still Weighing On Bitcoin ETF Proposals As Grayscale Lawsuit Continues appeared on BitcoinEthereumNews.com. Key Points: SEC Chairman Gensler confirms ongoing evaluations of spot Bitcoin ETF proposals and ongoing communication with applicant companies. Following the SEC’s decision not to appeal, GBTC experienced a decreased discount to net asset value. The U.S. Securities and Exchange Commission (SEC) remains in the process of evaluating spot Bitcoin ETF proposals, according to SEC Chairman Gary Gensler. He confirmed that discussions with companies seeking approval for a spot Bitcoin ETF are ongoing. SEC’s Ongoing Evaluation of Bitcoin ETF Proposals In an interview with Bloomberg reporter Kailey Leinz, Gensler addressed concerns about the Grayscale lawsuit during a recent inquiry but refrained from delving into specifics. “We have 8-10 filings from issuers; there is a process. I look forward to the Staff’s recommendations,” he stated. This development comes after the SEC decided not to appeal its August court loss over Grayscale’s endeavor to convert its Bitcoin Trust (GBTC) into an ETF. Grayscale initially filed for this conversion in October 2021, with GBTC being the world’s largest cryptocurrency fund, currently managing $16.7 billion in assets. Crypto Market Optimism Amid Grayscale Lawsuit Developments In response to the SEC’s decision not to appeal, investors narrowed GBTC’s discount to net asset value to approximately 14%, as reported by Bloomberg. This marks the narrowest margin since November 2021, contrasting the record 48.9% discount in December 2022. Furthermore, a recent report by CryptoQuant, a provider of blockchain data, suggests that Bitcoin’s market capitalization could experience substantial growth if spot Bitcoin ETF proposals gain approval next year. The report anticipates a surge of institutional investment that could elevate Bitcoin’s market cap to $900 billion. Additionally, the influx of funds into the digital asset space could potentially raise the entire cryptocurrency market cap by $1 trillion. DISCLAIMER: The information on this website is provided as general market commentary and does…
The post SEC Still Weighing On Bitcoin ETF Proposals As Grayscale Lawsuit Continues appeared on BitcoinEthereumNews.com.
Key Points: SEC Chairman Gensler confirms ongoing evaluations of spot Bitcoin ETF proposals and ongoing communication with applicant companies. Following the SEC’s decision not to appeal, GBTC experienced a decreased discount to net asset value. The U.S. Securities and Exchange Commission (SEC) remains in the process of evaluating spot Bitcoin ETF proposals, according to SEC Chairman Gary Gensler. He confirmed that discussions with companies seeking approval for a spot Bitcoin ETF are ongoing. SEC’s Ongoing Evaluation of Bitcoin ETF Proposals In an interview with Bloomberg reporter Kailey Leinz, Gensler addressed concerns about the Grayscale lawsuit during a recent inquiry but refrained from delving into specifics. “We have 8-10 filings from issuers; there is a process. I look forward to the Staff’s recommendations,” he stated. This development comes after the SEC decided not to appeal its August court loss over Grayscale’s endeavor to convert its Bitcoin Trust (GBTC) into an ETF. Grayscale initially filed for this conversion in October 2021, with GBTC being the world’s largest cryptocurrency fund, currently managing $16.7 billion in assets. Crypto Market Optimism Amid Grayscale Lawsuit Developments In response to the SEC’s decision not to appeal, investors narrowed GBTC’s discount to net asset value to approximately 14%, as reported by Bloomberg. This marks the narrowest margin since November 2021, contrasting the record 48.9% discount in December 2022. Furthermore, a recent report by CryptoQuant, a provider of blockchain data, suggests that Bitcoin’s market capitalization could experience substantial growth if spot Bitcoin ETF proposals gain approval next year. The report anticipates a surge of institutional investment that could elevate Bitcoin’s market cap to $900 billion. Additionally, the influx of funds into the digital asset space could potentially raise the entire cryptocurrency market cap by $1 trillion. DISCLAIMER: The information on this website is provided as general market commentary and does…
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