TechFlow News According to official updates, the U.S. Securities and Exchange Commission (SEC) has rejected Grayscale's application to convert its GBTC into a spot Bitcoin ETF, as well as Bitwise's application for its Bitcoin ETP Trust. The SEC stated that the applications failed to address the agency’s concerns regarding preventing fraud, manipulation, and other issues. Grayscale's CEO tweeted, "We have filed a lawsuit against the SEC."
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