SEC Rejects Grayscale ETF as Hong Kong Debuts See Gains The S | • CRYPTO NEWS • #BTC • #ETH •
SEC Rejects Grayscale ETF as Hong Kong Debuts See Gains
The Securities and Exchange Commission has reaffirmed its decision to reject Grayscale’s application for a Bitcoin exchange-traded fund (ETF). Grayscale’s proposal to convert its Bitcoin Trust into an ETF in June earlier this year. Grayscale argued that the SEC was discriminating against ETFs investing in spot Bitcoin. Upon receiving the rejection, Grayscale sued the SEC. It claimed the regulator was applying an unfair double standard by allowing exclusively Bitcoin futures ETFs on the market. the SEC was putting its shareholders at an unfair disadvantage.
