Grayscale Chief Legal Officer: The court is expected to make a ruling in the third quarter, and if unsuccessful, will appeal to the Supreme Court

ChainCatcher news, Grayscale CEO Sonnenshein stated in an interview that the U.S. Court of Appeals may decide whether to overturn the SEC's rejection of its proposal to convert the GBTC product into an ETF before the third quarter. Additionally, he reiterated that if the case is unsuccessful, Grayscale will seek to appeal to the Supreme Court. Sonnenshein mentioned that if they fail, the company will discuss the possibility of obtaining an exemption from the tender offer rules with the SEC.

Grayscale feels "optimistic" after the oral arguments, with the stock price of GBTC, the Grayscale Bitcoin Trust, rising for two consecutive days. Since the oral arguments were held yesterday in Washington, the stock price has increased by approximately 11%. (Bloomberg)