U.S. Washington court rules in favor of Grayscale against SEC over conversion of GBTC

The U.S. Court of Appeals for the DC Circuit officially ruled on the lawsuit between Grayscale and the SEC. The SEC needs to reconsider Grayscale’s application to convert Grayscale GBTC into a Bitcoin spot ETF. The SEC now has the option of approving Grayscale's application or denying it on other grounds. Grayscale spokesperson Jennifer Rosenthal issued a statement after the case was concluded on Monday: "The Grayscale team looks forward to continuing to work constructively with the SEC to convert GBTC into an ETF. GBTC is operationally ready and plans to take action as soon as possible on behalf of investors." (CoinDesk )