Breaking: Grayscale Lawyer Says SEC Spot ETF Denial 'Arbitrary'

Grayscale Bitcoin Trust: Lawyers representing Grayscale opened the arguments saying the SEC had contradicted its own earlier orders when it comes to approving the GBTC spot Bitcoin ETF. Don Verrilli, the company’s attorney, said the SEC’s rejection was an arbitrary decision, considering the existence of Bitcoin futures contracts. Reacting to the opening arguments, the judge asked if the SEC would have to approve a spot Bitcoin exchange traded product (ETP) if Grayscale’s arguments are to be favored.