On Friday, an individual conversant in the matter stated the U.S. Securities and Alternate Fee wouldn’t attraction its loss within the Grayscale case. “The SEC’s resolution to not attraction in opposition to a ruling that it was fallacious to reject a spot BTC ETF is a transparent testomony that regulatory dynamics in crypto are evolving,” stated Lucas Kiely, chief funding officer at Yield App in a be aware to CoinDesk. “Whereas this not at all ensures that Grayscale will convert its bitcoin belief into an ETF, the transfer does enable Grayscale’s utility to maneuver ahead,” Kiely stated. “It additionally opens the door for additional spot bitcoin ETFs within the U.S., which might doubtlessly slender the hole with Europe and Canada, the place ETFs have already gained traction with traders.”
