The SEC’s rejection of Grayscale’s conversion application might be overturned if the regulatory authority fails to appeal a court’s decision. This could impact future ETF filings from Blackrock and Fidelity. However, an analyst believes the SEC is likely to appeal the ruling to buy more time. Despite this, the market anticipates the approval of a spot bitcoin ETF in the future. Several analysts view bitcoin as a highly liquid store of value, likening it to “digital gold.” Others disagree with this characterization, stating that its performance as a hedge against inflation remains weak. The article concludes with a disclaimer and source reference.
AI Sentiment: Negative