Morgan Stanley: After Grayscale's Legal Victory, SEC May Be Forced to Approve Multiple Spot Bitcoin ETF Applications
2023-09-03 14:16
Odaily News: A research report by Morgan Stanley analysts, including Nikolaos Panigirtzoglou, suggests that Grayscale's recent legal success indicates that the U.S. SEC may be compelled to approve the spot Bitcoin ETF applications from Grayscale and other asset management companies.
Analysts believe that the SEC needs to withdraw its approval for futures-based Bitcoin ETFs in order to justify their "rejection of Grayscale's proposal to convert its Bitcoin Trust into an ETF." However, analysts add that this move would be embarrassing and disruptive for investors and seems unlikely. (Source: The Block)
In previous news, the SEC has delayed its decision on several Bitcoin spot ETF applications. The SEC states that it needs more time to decide on the applications from WisdomTree, Valkyrie, and Invesco for Bitcoin spot ETFs, with a decision now expected in mid-October.
Analysts believe that the SEC needs to withdraw its approval for futures-based Bitcoin ETFs in order to justify their "rejection of Grayscale's proposal to convert its Bitcoin Trust into an ETF." However, analysts add that this move would be embarrassing and disruptive for investors and seems unlikely. (Source: The Block)
In previous news, the SEC has delayed its decision on several Bitcoin spot ETF applications. The SEC states that it needs more time to decide on the applications from WisdomTree, Valkyrie, and Invesco for Bitcoin spot ETFs, with a decision now expected in mid-October.
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