Grayscale teased its hiring process for its ETF (exchange-traded fund) team, signaling an optimistic outlook on its long-pending Bitcoin ETF application.
Grayscale Investments has been seeking to convert its Bitcoin trust into a spot Bitcoin exchange-traded fund.
In June 2022, the U.S. SEC rejected Grayscale’s application to convert its GBTC to a spot Bitcoin ETF. In response, Grayscale sued the securities regulator, saying it was acting arbitrarily by failing to apply consistent treatment to similar investment vehicles.
According to market analysis, Grayscale could be getting a decision on its lawsuit against the federal securities regulator before the week’s end.
Related: Awaiting the Grayscale BTC ETF Decision | Crypto Daily Digest Aug. 16
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