Lawyer MetaLawMan: If the SEC rejects the application for a spot Bitcoin ETF, it may be sued by multiple companies

American lawyer MetaLawMan stated that if the US SEC risks rejecting applications for spot Bitcoin ETFs from companies such as BlackRock, Grayscale Investments, and Ark 21Shares, it is likely to be sued by a large group of people. MetaLawMan predicts that if a lawsuit is filed, the Washington DC Appeals Court will once again rule that the SEC's decision on more than 12 Bitcoin ETF applicants is "arbitrary and capricious." This legal expert drew on the precedent from last year's lawsuit between the SEC and Grayscale Investment Company to express this position.