ChainCatcher news, Fox reporter Eleanor Terrett tweeted that Grayscale issued a statement on the U.S. Securities and Exchange Commission (SEC)’s decision not to seek a retrial: “The 45-day deadline for seeking a retrial stipulated in the Federal Appellate Procedure Rules has now passed. The court will now issue a final authorization within 7 days. The Grayscale team is operationally prepared to convert GBTC into an ETF once it obtains SEC approval.”
ChainCatcher previously reported on October 13 that Fox reporter Eleanor Terrett tweeted that the SEC will appeal Grayscale's decision before midnight on October 13. If the SEC does not appeal, the case will be closed within 7 days from now, and Grayscale can begin working with SEC staff to start the approval process. At that time, Grayscale will work with the SEC's Corporate Finance and Trading and Markets Divisions.
