Grayscale Chief Legal Officer: The next litigation brief will be submitted to challenge the SEC's decision to refuse to convert GBTC into a Bitcoin ETF

Grayscale (Grayscale) Chief Legal Officer Craig Salm tweeted that the next brief in the lawsuit will be submitted soon, challenging the US Securities and Exchange Commission (SEC)'s decision to refuse to convert GBTC into a spot Bitcoin ETF, although the timing is uncertain , but oral arguments are likely to take place in the second quarter, and a final decision in federal court in Washington could come in the fall. Foresight News previously reported that in October last year, Grayscale submitted the main points of the legal proceedings against the US SEC, saying that the SEC’s refusal to convert GBTC into a spot bitcoin ETF exceeded the statutory authority; in December last year, the US SEC submitted its first legal brief, responding to Grayscale The lawsuit that converted GBTC into spot bitcoin ETF was rejected, arguing that its rejection was "reasonable, with reasonable explanation, and supported by a large amount of evidence."