Apparently the judges agreed with Grayscale that the SEC’s policies regarding bitcoin ETFs are inconsistent.
Last year, Grayscale, a CoinDesk sister company, filed suit against the Securities and Exchange Commission after its proposal to convert the Grayscale Bitcoin Trust into a bitcoin spot exchange-traded fund was rejected. Today the hearing began, and the SEC was almost immediately put on the defensive. In this episode, NLW explains the background of the SEC and bitcoin ETFs, the specifics of the Grayscale case and how the community is reacting to today’s hearing.
–
“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Nuthawut Somsuk/ Getty Images, modified by CoinDesk.
Join the discussion at discord.gg/VrKRrfKCz8.
Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.