The long legal battle between Grayscale and the SEC over the allocation of the Bitcoin ETF could end very soon. Indeed, several analysts agree on the imminence of the court decision. A decision that could be favorable to the institutional investment giant according to the predictions of some observers.
Grayscale soon to be located according to experts
US giant Grayscale Investments harbors ambitions to turn its over $13 billion BTC trust into a spot ETF. Unfortunately, the investment company is struggling to carry out this project. The Securities and Exchange Commission (DEC) refused Grayscale’s request in June 2022. Since then, a major legal battle has pitted the leader in institutional investment against the American regulator. Grayscale, which cried foul and filed a lawsuit against the SEC, could be located this week according to some experts.
Scott Johnsson, a partner at Van Buren Capital, explained in a tweet dated August 11 that in US district courts, paralegals typically leave their positions in August. Judges must therefore settle the pending caseload “before the arrival of new guards”. He points out that Grayscale delivered its oral arguments in the trial exactly 160 days ago.
The analyst points out that among the 32 cases that have been heard by the courts during the same period, very few cases have not yet been resolved. Verdict in Grayscale’s SEC Lawsuit Coming Soon according to him. James Seyffart also agrees and believes that the judges’ decision could come as early as August 15. The Bloomberg analyst prides himself in passing on having predicted this “theoretical date” for quite a while.
Grayscale winner of the legal battle?
While Grayscale and the entire cryptosphere eagerly await the judges’ decision, some observers already have their thoughts on the outcome of this trial. Their predictions are also promising for the institutional investment giant.
The star tech manager and founder of the ARK Invest fund sees Grayscale winning her battle. ETF analyst Nate Geraci also predicts a win for the US asset management firm.
Pending the outcome of its lawsuit, Grayscale has recently tempered the excitement around Bitcoin ETFs. The investment fund has indeed expressed its disagreement with the idea of shared surveillance of the SEC. He also urged the regulator to be fair in its decision-making.
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