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Grayscale Bitcoin ETF Approval Expected in August 2023 as SEC Faces Lawsuit

June 27 (Cointime) - The Grayscale Bitcoin Trust (GBTC) trading volume has increased due to the recent interest in Bitcoin ETFs from mainstream players. Grayscale went to court against the U.S. Securities and Exchange Commission (SEC) after their spot Bitcoin ETF application was rejected, and the judges in the lawsuit questioned the SEC's motives during a recent hearing.

Bloomberg legal analysts believe that Grayscale has a 70% chance of winning the lawsuit, and the SEC may approve a spot Bitcoin ETF application before the court delivers its decision in August 2023. This could make it easier for Blackrock and Fidelity in their ETF filings.

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