Court sets date for oral arguments in Grayscale's challenge of SEC's bitcoin ETF decision
Publishing timestamp: 2023-01-24 08:48:02
Summary
The District of Columbia Court of Appeals has scheduled a date to hear oral arguments in Grayscale's lawsuit against the SEC's decision to deny conversion of its Grayscale Bitcoin Trust to an exchange-traded fund. Grayscale had previously expected oral arguments to begin in the second quarter. The SEC rejected Grayscale's application last summer due to concerns about market manipulation and investor protections. Investors are hoping for the SEC to approve a U.S. spot bitcoin ETF. Grayscale charges a 2% annual fee to investors, and has been under fire by many investors in crypto. Fir Tree Capital Management has sued Grayscale over potential mismanagement and conflicts of interest of GBTC.
Sentiment: MIXED
Keywords: investment strategy, business news, bitcoin, grayscale bitcoin trust (btc), markets, bitcoin/usd coin metrics,