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Grayscale argues the SEC’s bitcoin ETF treatment could violate the APA

In the wake of the Securities and Exchange Commission’s most recent bitcoin exchange-traded fund (ETF) rejection, Grayscale is pushing back on the regulator’s arguments. Grayscale is seeking to convert its bitcoin trust, GBTC, to an ETF, and recently put the Securities and Exchange Commission on the clock in October, when NYSE Arca filed to list the product. A decision could come as early as Dec. 24, although the agency has a history of extensions. It’s already published a notice on …