Grayscale will hold oral arguments today regarding the lawsuit against the SEC

ChainCatcher news, on Tuesday local time in the U.S., Grayscale Investments will begin oral arguments in its lawsuit against the U.S. Securities and Exchange Commission (SEC), which rejected Grayscale's proposal to convert its product into an ETF last June, citing concerns over Bitcoin fraud and manipulation.

According to previous reports, in October last year, Grayscale submitted key points for the legal proceedings against the SEC, stating that the SEC's rejection of the conversion of GBTC into a spot Bitcoin ETF exceeded its statutory authority; in December last year, the SEC submitted its first legal brief, responding that the rejection of Grayscale's conversion of GBTC into a spot Bitcoin ETF was "reasonable and supported by substantial evidence." (Bloomberg)