Unchained

Grayscale v. SEC: Who Won This Week’s Hearing? - Ep. 465

Mar 10, 2023

Elliott Stein is a Senior Litigation Analyst at Bloomberg Intelligence, specializing in the legal intricacies of the crypto sector. He discusses a recent court hearing on the SEC's rejection of Grayscale's bid for a bitcoin ETF. Stein notes the judges' skepticism towards the SEC's rationale for treating bitcoin futures differently from spot ETFs. He also shares insights on other critical cases like Ripple and delves into the potential impact of Grayscale's lawsuit on the broader crypto landscape, including implications for future ETF applications.

37:09

Creator website

Episode guests

Elliot Stein

AI Chapters

Episode notes

Intro

2min

Grayscale vs. SEC: The Bitcoin ETF Battle

6min

Shifting Perspectives in Grayscale vs. SEC

5min

Grayscale's Court Battle: Implications for Bitcoin ETFs

8min

Ripple Case Insights and Silvergate Bank's Shutdown

4min

Navigating Crypto Chaos: Legal and Financial Turbulence

12min

Elliott Stein, senior litigation analyst at Bloomberg Intelligence, shares his insights from a court hearing this week on the SEC’s rejection of Grayscale’s bid to convert GBTC into a spot bitcoin ETF. Stein says federal appellate court judges seemed skeptical of the SEC’s arguments for why bitcoin futures ETFs are OK while bitcoin spot ETFs aren’t. Who’s likely to win the case and what does it mean for the crypto industry as a whole?

Show highlights:

why Grayscale filed the lawsuit against the SEC
why Grayscale believes that a bitcoin futures ETF is essentially the same as a spot ETF
what the SEC disagrees
why the judges pushed back against the SEC’s arguments
why Elliott changed his mind about who will win the case after the hearing
what would happen if Grayscale ends up winning the lawsuit and whether the SEC could go back on its previous approvals
whether other companies applying for a bitcoin spot ETF would benefit from Grayscale winning the case
whether this case could have an impact on the jurisdictional battle between the SEC and the CFTC
why Elliott is keeping an eye on other cases such as Ripple, Terraform Labs, and insider trading at Coinbase

Thank you to our sponsors!

Crypto.com

Railgun DAO

Previous coverage of Unchained on Grayscale and GBTC:

Guest

Elliott Stein, Senior Litigation Analyst for the Financials Sector at Bloomberg Intelligence

Twitter

Links

Learn more about your ad choices. Visit megaphone.fm/adchoices

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.