The US Securities and Exchange Commission (SEC) has until October 13th to decide whether to appeal a court ruling that found its denial of a spot Bitcoin exchange-traded fund (ETF) arbitrary. If the SEC does not appeal, it is likely that Grayscale’s Bitcoin Trust (GBTC) will be converted into a spot Bitcoin ETF. The SEC’s decision will have a significant impact on the future of Bitcoin ETFs and the crypto industry. Speculation is divided on whether the SEC will appeal or not, with most people believing that Bitcoin ETFs are on the way regardless. If the SEC chooses not to challenge the court ruling, the court will likely guide them on what to do next, which could involve approving GBTC’s application or finding another reason to reject it. The cryptocurrency community and market observers are eagerly awaiting the SEC’s decision, as it could significantly influence the future of Bitcoin ETFs and the broader crypto landscape.
AI Sentiment: Neutral