SEC Could Issue New Arguments to Reject Spot Bitcoin ETF: Berenberg

It is quite possible that the U.S. Securities and Exchange Commission (SEC) will prepare alternative arguments to justify continued rejections of spot bitcoin (BTC) exchange-traded-fund (ETF) applications based on concerns about the spot bitcoin market, German investment bank Berenberg said in a research report Wednesday.

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The panel did not compel the SEC to approve a spot bitcoin ETF, but said the regulator needed to revisit the arguments it used to support its rejection of Grayscale’s application, the analysts wrote.

The SEC also has the option to appeal the panel’s ruling, the report said.

Source: SEC Could Issue New Arguments to Reject Spot Bitcoin ETF: Berenberg