SEC Has ‘No Grounds’ to Reject Bitcoin ETF Conversion, Grayscale Says

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“After the Commission has had the opportunity to fully analyze the court’s opinion in light of the record, including the reasons for rejection set forth … we believe the Commission should conclude that there are no grounds for treating the Trust differently from ETPs that invest in bitcoin futures contracts,” Grayscale’s legal team wrote in a letter to the regulator on Tuesday.

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