The decision of the case between Grayscale and the SEC, which was expected to be announced on Friday last week, was not announced that day, and the eyes were turned to Tuesday and Friday this week.
According to the statement made by the Grayscale Chief Legal Officer, no decision was made in the case today.
Information claimed by Blockworks claimed that the court would likely require the SEC to re-examine Grayscale's spot Bitcoin ETF conversion application, taking up to 240 days.
Grayscale sued the institution in June 2022 after the SEC rejected the conversion of its Bitcoin trust (GBTC) product into a spot ETF.
GBTC price is trading at a 26.82% discount based on net asset value, according to the latest data. This value fell to its lowest level in December 2022, exceeding 48%. It is thought that this discount will decrease if there is a positive development in the Grayscale case.
Genesis, the credit institution of the Digital Currency Group, of which Grayscale is a member, recently filed for bankruptcy.
*Not investment advice.