As is known, the SEC did not object to the court's decision in favor of Grayscale, which paved the way for the acceptance of spot ETFs.
Grayscale, a leading digital asset management firm, announced that the 45-day period for reconsideration provided by the Federal Rules of Appellate Procedure has officially expired.
Grayscale Expects Approval of Bitcoin ETF After Appeal Process Ends
According to the company's statement, the Court will make its final decision within the next seven calendar days.
The Grayscale team stated that it is preparing to facilitate the conversion of Grayscale Bitcoin Trust (GBTC) into an Exchange Traded Fund (ETF) once the Securities and Exchange Commission (SEC) approves it.
More details about this process are expected to be announced in the coming days.
This development marks a pivotal moment for Grayscale and the cryptocurrency market, paving the way for greater accessibility and investment opportunities in the digital asset space.
The transition to an ETF structure will have significant implications for investors and could potentially reshape the landscape of cryptocurrency investment products.
According to some anonymous sources within the company, Grayscale is certain to approve the spot Bitcoin ETF. Some sources reported that the SEC is negotiating with companies on ETF approval. On the other hand, it was stated that the last meetings were generally similar to the meetings held before an ETF was accepted.
*This is not investment advice.
