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 Grayscale’s bid to convert to an ETF denied by the SEC

The US regulatory authority, the SEC, has rejected US crypto asset manager Grayscale’s application to convert its crypto investment vehicle to an ETF.

Interviewed by ETF Express for Asset TV on Tuesday, David LaValle, head of ETFs at Grayscale, commented that the firm was awaiting the decision with ‘bated breath’ but the decision has come early and is not to Grayscale’s liking.

The SEC ruled that the Bitcoin Trust failed to meet consumer protection requirements. Grayscale has launched a lawsuit against the SEC.

 

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