– The SEC reportedly has no plans to appeal a recent court decision that favored Grayscale Investments.
– The ruling requires the SEC to review Grayscale’s spot Bitcoin ETF application.
– Bloomberg analysts believe the SEC will not appeal to the Supreme Court, but this does not guarantee approval of Grayscale’s application.
– The appeals court is expected to issue a mandate outlining how the SEC should execute its ruling.
– Dialogue between Grayscale and the SEC is expected to begin next week.
– The deadline for the SEC to approve or deny Grayscale’s application is likely to be determined in the next week or two.
– If the application is denied, Grayscale could appeal the decision.
– There are currently seven spot Bitcoin ETF applications awaiting a decision from the SEC.
– Analysts predict a 90% chance of a spot Bitcoin ETF getting approved in January 2024, specifically Cathie Wood’s ARK Invest application.
– There is a 75% chance of an application getting approved in 2023, according to Bloomberg analysts.