Grayscale Investments may receive its decision on the lawsuit it filed against the US Securities and Exchange Commission (SEC) by the end of the week. This could shed light on Grayscale's efforts to turn its Bitcoin (BTC) trust into a spot Bitcoin exchange-traded fund. Scott Johnsson, general partner at Van Buren Capital, noted that law clerks in U.S. District Courts typically change in August, and judges try to lighten the caseload "before the new guards come in."

Currently, only a few March-argued cases remain unsolved, including Grayscale. Meanwhile, Bloomberg analyst James Seyffart stated that there is a possibility that the decision will come even on August 15. Grayscale filed a lawsuit in response to the SEC's rejection of its application to convert GBTC into a spot Bitcoin ETF in June 2022, accusing the regulator of being arbitrary in not applying consistent treatment to similar investment vehicles. Many industry commentators, such as ARK Invest's Cathie Wood and ETF analyst Nate Geraci, have suggested that Grayscale will win the case. Grayscale stated that the SEC should approve all Bitcoin spot ETF applications simultaneously to prevent firms from gaining an advantage over other applicants.#Grayscale#SEC #BitcoinETF

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