Valkyrie CEO says suing US SEC for a spot bitcoin ETF ‘isn’t likely to succeed’

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The U.S. Securities and Exchange Commission rejected two applications for bitcoins. The agency was sued by Grayscale Investments. Some people are not sure that it will work.

The SEC rejection of both Bitwise and Grayscale's applications is unsurprising because it follows the same precedent that other asset managers have had to endure. It isn't likely to succeed.

Wald has over $1 billion in assets under management. One of the SEC approved bitcoin futures exchange traded funds is located in Valkyrie.

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Gary Gensler has said in the past that the SEC should register with thecryptocurrencies. The agency has approved a handful of long and short exposure funds, but has denied every one of them.

The SEC has imposed huge costs on investors with no legitimate reason.