Should the SEC wish to challenge the federal judge’s conclusions in the Grayscale decision, the company’s application could simply be denied again for a different (or even an analogous) reason. That course of action becomes problematic quickly. The last thing any lawyer wants to do is upset a federal judge. That is a terrible idea, if the aim to quash the U.S. spot bitcoin ETF market before it begins.
How Everyone Can Win From the Grayscale Bitcoin ETF Decision, Including the SEC
