TechFlow reported, according to CoinDesk, the U.S. Court of Appeals for the District of Columbia Circuit has officially ruled on Grayscale's lawsuit against the SEC. The court ordered the SEC to reevaluate Grayscale’s application to convert its GBTC into a spot Bitcoin ETF. The SEC now has the option to either approve Grayscale's application or reject it on other grounds. After the ruling on Monday, Grayscale spokesperson Jennifer Rosenthal stated: "The Grayscale team looks forward to continuing constructive engagement with the SEC to convert GBTC into an ETF. GBTC is operationally ready and intends to move quickly on behalf of investors."
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