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Grayscale Wins Its Lawsuit Against The SEC Over Converting Its Fund To A Spot Bitcoin ETF

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Today, it was announced that the DC Circuit court of appeals is vacating SEC’s denial of Grayscale’s $GBTC conversion into a spot Bitcoin ETF. 

“We agree,” said Circuit Judge RAO. “The denial of Grayscale’s proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products. We therefore grant Grayscale’s petition and vacate the order.”

It is important to note that this does not mean GBTC is automatically being converted to a spot Bitcoin ETF, although this victory does bring us one step closer to that reality. The order is being vacated and sent back to the SEC. The SEC now has 45 days to appeal and file for an en banc hearing, which means the case will be heard by all 17 judges on the court instead of just the three that were involved in today’s decision, according to Bloomberg ETF analyst James Seyffart. 

“The Commission neither disputed Grayscale’s evidence that the spot and future markets for bitcoin are 99.9% correlated, nor suggested that market inefficiencies or other factors would undermine the correlation…The Commission’s unexplained discounting of the obvious financial and mathematical relationship between the spot and futures markets falls short of the standard for reasoned decision making,” Circuit Judge RAO. continued.

The price of GBTC pumped over 19% on the news and Bitcoin rose above 5%.

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Jesse Kelly TORCHES Republican On Tucker Carlson & Exposes “Controlled Opposition” LOSERS!

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Hope you enjoy today’s episode!

All My Links: http://DreamRareLinks.com

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18Apr24 David Knight Show UNABRIDGED

Full description with topics by timecode to followFind out more about the show and where you can watch it at TheDavidKnightShow.comIf you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-showOr you can send a donation throughMail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Money is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silverFor 10% off Gerald Celente’s prescient Trends Journal, go to TrendsJournal.com and enter the code KNIGHT

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Find out more about the show and where you can watch it at TheDavidKnightShow.com

If you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show

Or you can send a donation through
Mail: David Knight POB 994 Kodak, TN 37764
Zelle: @DavidKnightShow@protonmail.com
Cash App at: $davidknightshow
BTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7

Money is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silver

For 10% off Gerald Celente’s prescient Trends Journal, go to TrendsJournal.com and enter the code KNIGHT

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INTERVIEW From Fiat to Fractional Gold and Goldbacks

Inflation & war have always driven gold and they’re back.  But there’s something much different this time.  Gold can be a hedge against CBDC but what’s the best way to hold it?Tony Arterburn, DavidKnight.gold, joinsFind out more about the show and where you can watch it at TheDavidKnightShow.comIf you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-showOr you can send a donation throughMail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7Money is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silverFor 10% off Gerald Celente’s prescient Trends Journal, go to TrendsJournal.com and enter the code KNIGHT

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Inflation & war have always driven gold and they’re back.  But there’s something much different this time.  Gold can be a hedge against CBDC but what’s the best way to hold it?

Tony Arterburn, DavidKnight.gold, joins

Find out more about the show and where you can watch it at TheDavidKnightShow.com

If you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-show

Or you can send a donation through
Mail: David Knight POB 994 Kodak, TN 37764
Zelle: @DavidKnightShow@protonmail.com
Cash App at: $davidknightshow
BTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7

Money is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silver

For 10% off Gerald Celente’s prescient Trends Journal, go to TrendsJournal.com and enter the code KNIGHT

This post was originally published on this site

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