https://techcrunch.com/2022/07/01/valkyrie-ceo-says-suing-us-sec-for-a-spot-bitcoin-etf-isnt-likely-to-succeed/

Earlier this week, the U.S. Securities and Exchange Commission rejected two applications for bitcoin spot exchange-traded funds (ETFs). One of the firms, Grayscale Investments, responded by filing a lawsuit against the agency. But not everyone is convinced that it’ll work.

“The SEC rejecting both Bitwise and Grayscale’s GBTC spot bitcoin ETF applications is not at all surprising because it follows the same precedent that other asset managers have endured,” Leah Wald, CEO of Valkyrie Investments, said in a Twitter thread. “Suing the SEC isn’t likely to succeed.”