🌙 Grayscale Court Victory Over SEC

Grayscale's application to convert its GBTC to a spot ETF will now be re-considered by the SEC.

Author

Mike Gavela
October 23, 2023

Crypto Roundup - Oct 23

The U.S. Court of Appeals has prompted a wave of optimism in the cryptocurrency market by instructing the SEC to reevaluate Grayscale's application for a spot Bitcoin ETF, highlighting inconsistencies in previous rulings related to Bitcoin futures ETFs. This development, coupled with BlackRock’s proposed spot Bitcoin ETF listing on the DTCC and an imminent Nasdaq debut, has catalyzed a 33% surge in Grayscale Bitcoin Trust shares and propelled Bitcoin’s price past $34,000—a 14% increase within 24 hours—underscoring the market’s positive response to potential regulatory advancements.

Top Stories:

  • SEC Review of Grayscale's Bitcoin ETF: The SEC has been ordered by the U.S. Court of Appeals to revisit Grayscale's application for a spot Bitcoin ETF, challenging the consistency of the SEC’s previous rulings.

  • BlackRock’s Spot Bitcoin ETF Listing: BlackRock's proposed spot Bitcoin ETF has appeared on the DTCC's listings, sparking anticipation of SEC approval and potential ramifications for other spot crypto ETF filings.

  • Bitcoin's Price Surge: Bitcoin’s value has experienced a significant uplift, attributed to the growing enthusiasm surrounding potential spot ETF approvals and heightened trading activities in spot markets.

TOP STORIES

Court Orders the SEC to Review Grayscale's Spot ETF Application Anew - Decrypt

Amid growing confidence that the company will succeed, GBTC shares have soared 33% over the past month.

decrypt.co/202874/sec-must-again-review-grayscale-bitcoin-etf-application

BlackRock's spot bitcoin ETF appears on DTCC website with ticker IBTC

BlackRock's proposed spot bitcoin ETF turned up on list maintained by the DTCC with the ticker IBTC. It's still pending review by the SEC.

www.theblock.co/post/258041/blackrocks-spot-bitcoin-etf-appears-on-dtcc-website-with-ticker-ibtc

Bitcoin suddenly rockets past $34K as ETF excitement grows

The price of Bitcoin suddenly spiked past $34,000 following a fresh wave of excitement over the potential approval of a spot Bitcoin ETF in the future.

cointelegraph.com/news/bitcoin-btc-price-breaks-34000-etf-excitement-grows

FUNDRAISES

OTHER HEADLINES

Grayscale Court Victory Over SEC in Spot Bitcoin ETF Case Made Final

Grayscale's application to convert its GBTC to a spot ETF will now be re-considered by the SEC.

www.coindesk.com/policy/2023/10/23/grayscale-court-victory-over-sec-in-spot-bitcoin-etf-case-made-final

All Spot-Bitcoin ETF Applications May be Approved Together, Crypto ETF Expert Predicts

Barton's application expertise comes from a recent history of pulling off two regulatory firsts of sorts.

www.coindesk.com/policy/2023/10/23/all-spot-bitcoin-etf-applications-may-be-approved-together-crypto-etf-expert-predicts

What is the Kimchi Premium?

Understanding why there's often a cryptocurrency price difference between South Korea and the rest of the world.

www.theblock.co/learn/251472/what-is-the-kimchi-premium

Michael Saylor's $4.7B Bitcoin Bet Back in the Green

MicroStrategy, the software company led by Saylor, began buying the crypto more than three years ago and at last check held more than 158,000 bitcoins.

www.coindesk.com/markets/2023/10/23/michael-saylors-47b-bitcoin-bet-back-in-the-green

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