{"id":472811,"date":"2022-07-11T12:00:09","date_gmt":"2022-07-11T09:00:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/grayscale-legal-officer-says-bitcoin-etf-litigation-could-take-two-years\/"},"modified":"2022-07-11T12:00:09","modified_gmt":"2022-07-11T09:00:09","slug":"grayscale-legal-officer-says-bitcoin-etf-litigation-could-take-two-years","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/grayscale-legal-officer-says-bitcoin-etf-litigation-could-take-two-years\/","title":{"rendered":"# Grayscale legal officer says Bitcoin ETF litigation could take two years"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3dca57b3a98\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3dca57b3a98\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/grayscale-legal-officer-says-bitcoin-etf-litigation-could-take-two-years\/#%E2%80%9D_Grayscale_legal_officer_says_Bitcoin_ETF_litigation_could_take_two_years_%E2%80%9C\" >&#8221; Grayscale legal officer says Bitcoin ETF litigation could take two years  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Grayscale_legal_officer_says_Bitcoin_ETF_litigation_could_take_two_years_%E2%80%9C\"><\/span>&#8221; Grayscale legal officer says Bitcoin ETF litigation could take two years  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZTZmYTEzNTItMjRkOC00M2U4LWJlZmUtYTkxODUzMTY4ODMxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Asset management firms continue to fight for a spot Bitcoin (BTC)\u00a0exchange-traded fund (ETF)\u00a0in the United States as regulators remain skeptical of the idea.<\/p>\n<p>Craig Salm, chief legal officer at asset manager Grayscale, discussed the firm&#8217;s lawsuit with the United States Securities and Exchanges Commission (SEC) regarding the conversion of the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.\u00a0<\/p>\n<p>Salm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/grayscale.com\/gbtc-sec-lawsuit-q-and-a\/\">explained<\/a> the basis for Grayscale\u2019s argument against the SEC while answering the most-asked questions regarding the lawsuit. According to the legal officer, the SEC&#8217;s denial of the spot Bitcoin ETF separates futures and spot trading for Bitcoin ETFs and draws a distinction between the two. <\/p>\n<p>However, Grayscale argues that the differences have no correlation with Bitcoin ETF <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>rovals as both futures and spot Bitcoin ETF prices are based on the same spot Bitcoin markets.\u00a0<\/p>\n<p>Thus, the Grayscale legal team believes that the disapproval of spot Bitcoin ETFs amid the approval of Bitcoin futures ETFs can be considered &#8220;unfair discrimination.&#8221; Salm claimed that this violates several laws including the Administrative Procedure Act and the Securities Exchange Act of 1934.<\/p>\n<p>After explaining Grayscale&#8217;s arguments, Salm  also answered the most common question among those following the lawsuit\u2019s developments: <em>When will a spot Bitcoin ETF finally be approved?\u00a0<\/em><\/p>\n<p>According to Salm, while there is no certainty about the exact timing \u2014 due to many factors \u2014 heestimates that it could take from one to two years.<\/p>\n<p>Despite the potential length of the lawsuit, Salm said that Grayscale firmly believes in its arguments and is positive that the courts will rule in its favor. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Grayscale reports 99% of SEC comment letters support spot Bitcoin ETF<\/em><\/strong><\/p>\n<p>When Grayscale launched its legal challenge to the SEC, community members rallied behind the firm. Many were disappointed with the decision to disapprove the spot Bitcoin ETF while approving an ETF that shorts Bitcoin. A <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user alleged that the SEC\u2019s move aims to \u201csuppress the price of Bitcoin.\u201d <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/grayscale-legal-officer-says-bitcoin-etf-litigation-could-take-two-years\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Grayscale legal officer says Bitcoin ETF litigation could take two years &#8220; Asset management firms continue to fight for a spot Bitcoin (BTC)\u00a0exchange-traded fund (ETF)\u00a0in the United States as regulators remain skeptical of the idea. Craig Salm, chief legal officer at asset manager Grayscale, discussed the firm&#8217;s lawsuit with the United States Securities and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":472812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZTZmYTEzNTItMjRkOC00M2U4LWJlZmUtYTkxODUzMTY4ODMxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75849,76550,74355,117,70934],"class_list":["post-472811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-etf","tag-grayscale","tag-adoption","tag-business","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=472811"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/472812"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=472811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=472811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=472811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}