JPMorgan: SEC may be forced to approve Bitcoin spot ETF application.

According to a report by The Block on September 3, a research report by Morgan Stanley analysts led by Nikolaos Panigirtzoglou shows that Grayscale's recent victory indicates that the SEC may be forced to approve various asset management companies' pending applications for Bitcoin spot ETFs, including Grayscale. Analysts believe that the SEC needs to withdraw its approval for futures-based Bitcoin ETFs to prove that its refusal of Grayscale's proposal to convert its Bitcoin trust fund into an ETF is reasonable. However, analysts added that this move is "very embarrassing and disruptive for investors and seems unlikely." As previously reported by BlockBeats, the SEC announced last Thursday that it will delay its approval decision on seven spot Bitcoin ETF proposals due to its review of recent application documents.