By Bitcoinist - 1 year ago - Reading Time: 3 minutes
Crucial Day For Bitcoin: Court Sets Date For Grayscale Vs. SEC
The insolvency of Genesis Trading and the related uncertainty about the future of Digital Currency Group (DCG) and Grayscale have not really dampened the mood on the Bitcoin market in recent weeks. Genesis’ bankruptcy filing, which was te anonse Jedi pase a, sanble yo te deja pri nan pa envestisè yo.
Men, risk pou yo yon pi move-ka senaryo with the liquidation of Grayscale’s Bitcoin Trust (GBTC) with over 630,000 BTC has still not been eliminated. A crucial event in this context could be the lawsuit of Grayscale against the U.S. Securities and Exchange Commission (SEC) seeking approval to convert GBTC into a spot ETF.
Epi pètèt nan okazyon an nan fayit Jenèz la, Tribinal Apèl la te deplase moute orè a nan agiman oral la ant Grayscale ak SEC la. Dapre yon tribinal 23 janvye lòd, dat odyans lan te fikse pou 7 mas a 9:30 AM ET.
Byen bonè, chèf ofisye legal Grayscale a Craig Salm te genyen estime ke agiman oral pa ta dwe echanje jiskaske dezyèm sezon an. Dat odyans lan vini apre prèske nèf mwa depi Grayscale te depoze yon pwosè kont SEC a nan mwa jen 2022.
After several delays, the SEC denied Grayscale’s request to convert Bitcoin Mete konfyans (GBTC) nan yon Bitcoin-based spot ETF, citing concerns about market manipulation and investor protection.
Why The Litigation Is Crucial For Bitcoin
Apre depoze fayit Genesis la, envestisè yo ap mande sa sa vle di pou DCG ak filyal Grayscale li yo. Pandan ke kounye a pa gen okenn repons klè nan sa a, gen espekilasyon ke kreditè a crypto ta ka pran konpayi paran li yo e konsa Grayscale desann ak li.
Anplis de sa, yon lòt gwo tèt fè mal pou DCG ak Grayscale an patikilye se konfyans nan pèdi nan GBTC. Rabè nan valè byen nèt se kounye a anviwon 41%. Anpil moun kwè ke konvèti konfyans nan yon fon echanj-komèsyal ta dwe solisyon ki pi bon pou envestisè yo ak konpayi an reprann konfyans ak elimine rabè a.
Sepandan, sa a ta ka yon kous kont tan. Jis semèn pase a, yo te anonse ke DCG sispann dividann chak trimès li yo nan lòd yo ranfòse bilan li nan diminye depans operasyon yo. Anplis de sa, DCG ap chèche nan vann Crypto medya konpayi CoinDesk pou ranmase lajan kach ki nesesè anpil.
Tout bagay sa yo sijere ke DCG se sou tè enstab, pandan y ap vann pwòp GBTC ak ETH HOLDINGS se pa reyèlman yon opsyon. Dapre done Bloomberg, DCG posede prèske yon dizyèm nan tout aksyon GBTC.
Men, akòz règleman sou sekirite, DCG pa gen dwa vann plis pase 1% nan aksyon GBTC eksepsyonèl li yo pou chak trimès. Anplis, DCG ta plis mal konfyans nan ak elaji rabè nan pri.
In this respect, the lawsuit against the SEC seems like a glimmer of hope to pick up steam with the first Bitcoin spot ETF approved on U.S. soil while patching the holes created by Genesis. Therefore, Bitcoin investors should closely watch developments in Grayscale’s legal battle with the SEC.
At best, the first Bitcoin spot ETF will be approved – an investment vehicle for institutional investors that has long been considered the holy grail for a Bitcoin bull run. In the worst-case scenario, a rejection of the Grayscale lawsuit could have a severe impact on DCG’s next steps.
Bitcoin Pri jodi a
Nan moman laprès, BTC te komès nan $ 22,901, rete relativman trankil nan yon seri ant $ 23,361 ak $ 22,296. Yon ti repo ki pi ba ta pote zòn sipò $ 21,650 nan jwe. Yon levasyon tèt ka pèmèt pou yon pouse nan direksyon $ 24,000.
Sous orijinal: Bitcoinse