Predictions came true: Grayscale initiates lawsuit against the SEC for rejecting spot Bitcoin ETF
Grayscale Investments, the world’s biggest digital currency asset management firm, announced on June 29 that its Senior Legal Strategist Donald B. Verrilli, Jr., filed a petition for review with the U.S. Court of Appeals for the District of Columbia Circuit.
Specifically, the petition for review challenges the decision made by the Securities and Exchange Commission (SEC) to reject the conversion of Grayscale Bitcoin Trust (BTC) (OTCQX: GBTC) to a spot Bitcoin ETF, as per a GlobeNewswire report.
On the matter, Grayscale’s CEO, Michael Sonnenshein, said:
“Grayscale supports and believes in the SEC’s mandate to protect investors, maintain fair, orderly, and efficient markets and facilitate capital formation — and we are deeply disappointed by and vehemently disagree with the SEC’s decision to continue to deny spot Bitcoin ETFs from coming to the U.S. market.”
https://finbold.com/predictions-came-true-grayscale-initiates-lawsuit-against-the-sec-for-rejecting-spot-bitcoin-etf/
https://www.globenewswire.com/news-release/2022/06/30/2471737/0/en/Grayscale-Investments-Initiates-Lawsuit-Against-the-SEC.html