- Grayscale Investments’ application to convert its $13.5 billion Grayscale Bitcoin Trust (GBTC) into a spot-based bitcoin ETF was denied by the SEC on Wednesday
- SEC stated in its filing that the application failed to answer the SEC's questions about preventing market manipulation, as well as other concerns.
- The decision joins the SEC’s rejection on Wednesday of Bitwise’s application for approval of a spot bitcoin ETF.
Info comes via this link, more there if you are interested.
Bitcoin:
