Finst

Grayscale Sues the SEC — Bitcoin ETF Rejected

The U.S. financial regulator SEC has again rejected Grayscale's bid for a Spot Bitcoin ETF.

By Finst News
• 1 min read
Grayscale Sues the SEC — Bitcoin ETF Rejected

The U.S. Securities and Exchange Commission has again rejected Grayscale's spot Bitcoin ETF application. The case now has to go before a court.

Grayscale, the largest crypto asset manager, is suing the U.S. regulator SEC. The company announced it yesterday. Reason: the SEC rejected its application to list its Bitcoin ETF on the U.S. exchange—for the umpteenth time. On Twitter, the asset manager said it had been preparing for this scenario for months.

The lawsuit asks an American court to review the SEC's decision.

The case is making huge waves in the crypto space. If Grayscale wins, it would be a win for Bitcoin's legitimacy. At the same time, millions of new American investors could gain access to the digital gold.

Meanwhile, the SEC is currently in a legal battle with Ripple. The question is whether the token is a non-registered security. So far, Ripple seems to be on the right side.

Grayscale was founded in 2012 in the U.S. and is now one of the world's largest crypto asset managers.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.