Grayscale has won a historic victory in the DC Court, which ruled that the SEC cannot deny its Bitcoin Trust GBTC conversion to a spot Bitcoin ETF. However, this does not automatically mean that GBTC will convert to a spot Bitcoin ETF. The SEC has two options if they want to stop Grayscale from proceeding with the spot Bitcoin, which includes revoking the approval of Bitcoin Futures ETFs or rejecting based on previously unexplored grounds. The victory has caused the Bitcoin price to surge by 6%, but industry experts have mixed opinions on whether Grayscale will secure approval for the product from the SEC.
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Grayscale Wins Court Battle Against SEC Over Bitcoin ETF Conversion
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Cointime June 29th News Express
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