SEC Rejects Grayscale’s Spot Bitcoin ETF Utility

Grayscale Investments’ utility to transform its $13.5 billion Grayscale Bitcoin Belief (GBTC) right into a spot-based bitcoin ETF was denied by the SEC on Wednesday regardless of the corporate’s in depth efforts to win approval (Grayscale is owned by Digital Forex Group, which can be the mother or father firm of CoinDesk).

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