The Securities and Exchange Commission (SEC) may reevaluate Grayscale’s spot Bitcoin application at a closed meeting on November 2. The decision comes after a court described the SEC’s rejection of crypto-based ETF applications as “arbitrary and capricious.” It remains unclear whether the SEC will make a decision on Grayscale’s application or all pending spot Bitcoin ETF applications at the same time. The review is significant as institutions are looking to gain increased exposure to Bitcoin with the imminent launch of Bitcoin spot ETFs. Analysts anticipate a substantial inflow of money into BTC following the approval of a BlackRock ETF.
AI Sentiment: Neutral