Grayscale Investments secured a resounding victory in its longstanding case against the US Securities and Exchange Commission (SEC) in late August. Th
Grayscale Investments sought for years to convert its GBTC, which has about $16.6 billion under management to an ETF. On August 29, the firm won lawsuit against the commission, with court determining that SEC’s denial was arbitrary and capricious. The SEC was given 45 days to appeal the ruling, in which case it would either go to the Supreme Court or an en banc panel review. e lawsuit started in October after the firm approached the D.C.
Will Gensler’s #SEC file for an en banc appeal vs @Grayscale #Bitcoin ETF case by the Oct 13th deadline? This poll pertains just to the filing, not whether the appeal is granted. . — Timothy Peterson, CFA CAIA September 29, 2023 Nevertheless, if the SEC does not appeal, it is nearly equivalent to an approval. Further, it could serve as a smoke signal from the SEC on whether a spot Bitcoin ETF could soon come to market.
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