Grayscale Has 70% Odds Of Winning SEC Lawsuit: Bloomberg Analyst

CryptoPotato
CryptoPotato

27 Jun 2023 10:30 PM

Grayscale’s oral arguments and BlackRock’s ETF filing create a strong likelihood that a Bitcoin spot ETF is approved this year, analysts claim....

  • Grayscale's lawsuit against the SEC has a 70% chance of victory, according to Bloomberg Intelligence Senior Legal Analyst Elliot Z. Stein.
  • This could increase the likelihood of a Bitcoin spot ETF being approved in the United States this year, with a 50% chance assigned by the firm's analysts.
  • BlackRock filed for a spot ETF product last week, and the SEC may approve it before or around the same time as a court decision to preemptively soften a potential loss.
  • However, BlackRock's partnership with Coinbase for custody could undermine its application, according to Bloomberg's ETF analyst James Seyffart.

The article has a generally positive sentiment, with analysts claiming a high chance of victory for Grayscale's lawsuit and a potential approval of a Bitcoin spot ETF in the US this year. However, there are also concerns about BlackRock's ETF filing and its partnership with Coinbase.

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