SEC Rejects Grayscale ETF in New Blow to Crypto. Let the Legal Battle Begin.
— Rejected, Etf, Sec denied grayscale ’, Citing outstanding concerns including market manipulation, Launched, Crypto, Securities, Legal, Trust, Traded — 1 min read
SEC rejects Grayscale’s application to convert Bitcoin Trust to an exchange-traded fund. Bitcoin Trust has traded on over-the-counter markets since 2015. SEC cites outstanding concerns including market manipulation and fraud in crypto. A lawsuit against the SEC has been launched by the firm, which is seeking to sue the SEC for $12.9 billion. The Bitcoin Trust, which trades on the stock market, has traded since 2015, is valued at $1.2 billion per day. The SEC rejected the application, citing outstanding concerns of fraud and market manipulation in the crypto market. The lawsuit has already been launched against the Securities and Exchange Commission and is expected to be heard in court by the next week. It will be heard Source