Bitcoin Spot ETF (More Good News)

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In this video, I discuss Grayscale's recent legal victory over the SEC, and what it means for Bitcoin spot ETFs going forward.

This ruling does NOT mean that Grayscale has been given the automatic go-ahead to convert GBTC to a spot ETF, but it does provide the legal justification for backing ETFs with spot Bitcoin, which behaves similarly to Bitcoin futures, especially at the front month.

Meanwhile, GBTC's discount to spot BTC has narrowed.

The SEC has 45 days to appeal this ruling, and so we should have greater clarity soon as to when a Bitcoin spot ETF is coming to the US.

I still expect the BlackRock Bitcoin spot ETF, along with a few other spot ETFs, to be approved in the next 6 months. This will mean massive institutional money flows into BTC.

Not investment advice! Consult a financial advisor.

Grayscale wins its lawsuit against the SEC:
https://twitter.com/BitcoinMagazine/status/1696531400709775780

GBTC:
https://grayscale.com/products/grayscale-bitcoin-trust/

Grayscale vs SEC ruling:
https://www.cadc.uscourts.gov/internet/opinions.nsf/32C91E3A96E9442285258A1A004FD576/$file/22-1142-2014527.pdf

GBTC discount or premium:
https://ycharts.com/companies/GBTC/discount_or_premium_to_nav

Gemini Sues Digital Currency Group and Founder Barry Silbert Alleging 'Fraud':
https://www.coindesk.com/policy/2023/07/07/gemini-sues-digital-currency-group-and-founder-barry-silbert-alleging-fraud/

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

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