The U.S. Securities and Exchange Commission (SEC) might take another look at Grayscale’s request to approve a Bitcoin ETF that deals with actual bitcoins.
After a recent decision from a U.S. court, the SEC is possibly getting ready for a significant conversation. They’ve been asked to take another look at Grayscale’s request for approval of a Bitcoin ETF that deals with actual bitcoins. This means there might be an important discussion at a high level within the SEC regarding this matter.
Closed-Door Meeting at the US SEC
The US SEC is holding a private meeting with officials, including Commissioners and legal advisors, to discuss settlement claims and resolutions. This meeting comes after recent court orders in August and October 2023, supporting Grayscale’s conversion into a spot Bitcoin ETF.
The meeting on November 2, 2023, will address legal actions, administrative matters, and enforcement-related issues. It’s unclear if the SEC will request more time from the Court as a deadline on October 13, 2023, set a schedule for the approval of the first US spot Bitcoin ETF.
Many in the market think the SEC will approve all spot ETF applications simultaneously. Grayscale is ahead due to the August 2023 court order. Mike Novogratz, CEO of Galaxy Digital, expects the Bitcoin spot ETF to receive SEC approval in 2023.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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