Grayscale to Win SEC Lawsuit? Bitcoin ETF Approval Could Shock the System
Grayscale, a publicly traded Bitcoin trust on the US stock market, is on the edge of a lawsuit victory against the SEC to convert to a spot Bitcoin ETF. If Grayscale wins, it would be a major shock to the system and could lead to a flurry of ETF approvals, including from BlackRock and ARK.
Bloomberg ETF analysts Eric Balchunas and James Seyffart believe that Grayscale is likely to win its lawsuit against the SEC. They say that the SEC has no grounds to deny Grayscale’s application, and that a victory for Grayscale would set a precedent for other spot Bitcoin ETF applications.
If Grayscale wins, it would open the floodgates for institutional investment in Bitcoin. This could lead to trillions of dollars flowing into the market and could send the price of Bitcoin soaring.
Kathy Wood, the CEO of ARK Invest, believes that the SEC will approve more than one Bitcoin ETF if Grayscale wins its lawsuit. She says that this could lead to a “tsunami of demand” for Bitcoin and could push the price to new all-time highs.
The potential approval of a spot Bitcoin ETF is a major development for the crypto community. It would legitimize Bitcoin as an investment asset and make it more accessible to institutional investors. This could lead to a major surge in demand for Bitcoin and could push the price to new all-time highs.
