
April 22nd, 2025
The SEC has received an official application from BlackRock for a spot Bitcoin ETF to help investors benefit from BTC without direct access.
Chicago Board Options Exchange parent Cboe has again filed for a spot Bitcoin ETF with the SEC despite being rejected in late January.
The new filing comes as cryptocurrencies, and risk assets in general, are in recovery after a bad 2022.
While little is known about its fight with the SEC, Grayscale is already preparing for future moves in case it loses the battle.
CSOP Asset Management’s Bitcoin and Ether ETFs has started trading on on the HKEX.
The SEC recently approved a slew of blockchain-focused funds for WisdomTree but continues to deny spot Bitcoin ETFs.
Crypto asset manager Grayscale stated that the SEC had filed its first legal brief detailing its refusal to allow spot BTC ETFs.
According to the SEC, the application by Grayscale failed to answer the questions about preventing crypto market manipulation, among other concerns.
Justifying the delay, SEC stated that they need enough time to take action on the proposed rule change.
The SEC categorized Bitcoin Futures ETF and spot Bitcoin ETF as separate products.
The Grayscale lawsuit against the SEC specifies that the company believes the Commission has no real grounds to deny the spot ETF request.
Grayscale CEO has been pressing hard for the SEC to approve its spot Bitcoin ETF application. If the SEC decided otherwise, Grayscale is ready to take up a legal battle with the securities regulator.
The ProShares Short Bitcoin Strategy ETF (BITI) will allow users to profit from Bitcoin’s declining prices. It will also provide users with a hedge to their crypto exposure via an ETF.
Although Grayscale remains upbeat about the future, GBTC’s performance has been the subject of criticism by market experts, channeling the blame at regulators for what they see as an inaccurate risk assessment.
21Shares CEO Hany Rashwan earlier disclosed that the approval of the ARK 21Shares Bitcoin ETF would be a big win for the crypto industry.