1. Grayscale has submitted an application for a spot Bitcoin ETF to the SEC.
2. If the application is approved, the SEC will review and decide on the ETF.
3. If the application is denied, Grayscale has the option to appeal the decision.
Grayscale has recently applied for a spot Bitcoin ETF, and the fate of this application now rests in the hands of the SEC. If approved, the SEC will conduct a thorough review and make a decision on whether to allow the ETF. However, if the application is denied, Grayscale has the opportunity to appeal the decision. This development has significant implications for the cryptocurrency market and investors, as a Bitcoin ETF would provide a more accessible and regulated way to invest in Bitcoin.