Web3 Diaries-Grayscale Wins Lawsuit Against US SEC

Web3 Diaries-Grayscale Wins Lawsuit Against US SEC

The financial markets regulator received yet another blow, the second setback in as many month, with the District Court upholding petitioner contention and ordering the US Securities and Exchange Commission (SEC) to review its rejection of certain financial products.

The court ruling brought down the curtail on longstanding lawsuit that began in  October 2022, between Grayscale Asset Manager and SEC, which could lead to the approval of the first spot Bitcoin ETF in the United States:

ORDERED and ADJUDGED that Grayscale’s petition for review be granted and the Commission’s order be vacated, in accordance with the opinion of the court filed herein this date.

SEC’s first deadlines to approve 7 Bitcoin ETFs approaching near

Following the Grayscale ruling, the next big task for the United States Securities and Exchange Commission is to address the long list of ETF approvals. The first deadline to decide on seven spot Bitcoin exchange-traded fund applications, is drawing closure…

Investment firm Bitwise will learn if its ETF will win the SEC’s approval on Sept. 1 while BlackRock, VanEck, Fidelity, Invesco and Wisdomtree will all be awaiting the SEC’s decision for their funds by Sept. 2, according to several SEC filings.

Meanwhile, Valkyrie is set to hear back from the SEC on Sept. 4.

Tokenized U.S. Treasuries Arrive To XDC Network As Digital Bond Market Grows

Tradeteq, a private debt and real-world asset marketplace located in the UK, said on Tuesday that it has launched a tokenized U.S. Treasury offering on the layer 1 blockchain XDC Network.

The U.S. Treasury Yield (USTY) tokens, which are available to professional investors on Tradeteq’s Yieldteq platform, are blockchain-based representations of shares in a U.S. Treasury bond exchange- traded fund (ETF). Securitize, a supplier of tokenization services, onboards purchasers, keeps track of share ownership, and administers dividend payments.

The launch of the new product coincides with tokenization becoming as one of the most popular developments in the damaged digital asset sector.

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