SEC Drops Appeal Against Grayscale's Bitcoin ETF Conversion

The SEC has decided not to appeal a court decision in favor of Grayscale, allowing them to convert their Bitcoin Trust into a spot Bitcoin ETF. This move signifies a significant step forward in the cryptocurrency industry.
Jordan Tuwiner

Jordan discovered Bitcoin in 2013 and has been helping others learn about Bitcoin since through this site, which reaches 20,000+ readers daily.

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      October 15, 2023

SEC Drops Appeal Against Grayscale's Bitcoin ETF Conversion

Key Takeaways

  • The SEC has decided against appealing a pro-Grayscale ruling.
  • Grayscale can now convert its Bitcoin Trust into a spot Bitcoin ETF.
  • This decision indicates a potential shift in SEC's stance on crypto products.

SEC Halts Appeal Against Grayscale

The U.S. Securities and Exchange Commission (SEC) has confirmed that it will not appeal a recent court decision in favor of Grayscale. This paves the way for the investment company to convert its Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF).

Grayscale’s Journey

Grayscale’s Bitcoin Trust has been a popular choice for investors wanting exposure to Bitcoin without holding the asset directly. A conversion into a spot Bitcoin ETF would allow for more liquidity and easier trading on traditional platforms.

Implications for the Crypto Market

The decision by the SEC to not challenge the court’s ruling signals a possible change in their approach towards cryptocurrency products. This comes at a time when the crypto industry has been pushing for clearer regulations and more acceptance in the mainstream financial markets.

Future Outlook

The crypto community awaits further developments, hopeful that the SEC’s stance augurs well for future ETF approvals. Such steps will undoubtedly boost confidence among institutional investors, potentially propelling the cryptocurrency market to even greater heights.

Article Sources

BuyBitcoinWorldWide writers are subject-matter experts and base their articles on firsthand information, like interviews with experts, white papers or original studies and experience. We also use trusted research and studies from other well-known sources. You can learn more about our editorial guidelines.

  1. SEC Will Not Appeal Grayscale's Court Win Over Spot Bitcoin ETF Conversion,

About the Author

jordan tuwiner

Jordan Tuwiner is the founder of He studied computer science at Towson University and holds an online degree in trading & cryptocurrency. Jordan has been writing about Bitcoin since 2015. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets.