After Grayscale’s proposal to bring its bitcoin-holding exchange-traded fund to market in the U.S. was rejected last June, the firm sued the U.S. Securities and Exchange Commission. Oral arguments kicked off last month in the District of Columbia Court of Appeals.
“I think the chances are more than 50-50 that [Grayscale] will win in this lawsuit,” Dave Nadig, financial futurist at VettaFi, told Bob Pisani on CNBC’s “ETF Edge” on Monday.
“However, I don’t think that means that we all of a sudden get a bitcoin ETF,” he added. “I think there’s actually a higher likelihood it means that they shut down some of the futures-based products.”
Source: Legislation or lawsuits? The spot bitcoin ETF debate forges ahead
