With the Securities and Exchange Commission opting against appealing a ruling that paves the way for Grayscale Investments LLC to convert its Bitcoin trust into an exchange-traded fund, analysts are now trying to gauge how the process may unfold from here.
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What’s likely to occur is that dialog between Grayscale and the SEC is going to open up, according to James Seyffart, an analyst at Bloomberg Intelligence. “We’ll get more information next week and then we’ll know what happens next,” he said. Seyffart added that the regulator has the option to file an appeal with the Supreme Court, though he views that as highly unlikely to happen.
Source: Grayscale’s Bitcoin ETF Push: What’s Next After SEC Doesn’t Appeal Ruling – Bloomberg
