Grayscale said the SEC acted arbitrarily in rebuffing a bid to convert its $12 billion spot Bitcoin trust into an exchange-traded fund. The rejection over the risk of fraud and manipulation in the spot Bitcoin market is "capricious" and "discriminatory" because the SEC has allowed futures-based Bitcoin ETFs and they are exposed to similar concerns, Grayscale said in the opening brief of its lawsuit against the regulator.
Grayscale Says SEC Unfairly Rejected Bid for Bitcoin ETF
Oct 12,2022,11:55
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