TechFlow reported on October 16 that Fox Business journalist Eleanor Terrett tweeted a statement from Grayscale regarding the U.S. SEC's decision not to seek a rehearing: "The 45-day period under the Federal Rules of Appellate Procedure to seek a rehearing has passed. The court will issue its final mandate within seven days. The Grayscale team is ready and prepared to convert GBTC into an ETF upon receiving SEC approval."
As previously reported, the SEC does not plan to appeal the Grayscale ruling, aligning with many industry observers' expectations and increasing the likelihood of GBTC's conversion into an ETF.
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