TechFlow news — According to CoinDesk, a U.S. federal court is preparing to formally rule in favor of Grayscale in its dispute with the SEC over a spot Bitcoin ETF. Following standard procedures for such cases, after the SEC last week decided not to appeal the court's decision, the U.S. Court of Appeals for the District of Columbia Circuit has seven days to officially close the case. With the deadline falling this Friday, the court may either terminate the case without comment or issue further directives to the SEC regarding next steps.
A source familiar with the matter said the court’s final order could be issued on Friday or Monday. The industry widely expects the SEC to approve new ETFs, though it remains unclear whether that will happen later this year or at some point in 2024. If approved, Grayscale will convert its Bitcoin Trust (GBTC) into an ETF listed on NYSE Arca.
