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On Friday, an individual acquainted with the matter mentioned the U.S. Securities and Change Fee wouldn’t enchantment its loss within the Grayscale case. “The SEC’s resolution to not enchantment in opposition to a ruling that it was incorrect to reject a spot BTC ETF is a transparent testomony that regulatory dynamics in crypto are evolving,” mentioned Lucas Kiely, chief funding officer at Yield App in a notice to CoinDesk. “Whereas this in no way ensures that Grayscale will convert its bitcoin belief into an ETF, the transfer does enable Grayscale’s software to maneuver ahead,” Kiely mentioned. “It additionally opens the door for additional spot bitcoin ETFs within the U.S., which may probably slender the hole with Europe and Canada, the place ETFs have already gained traction with buyers.”
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