Grayscale: The SEC has not reappealed, and the team is ready to convert GBTC into an ETF

ChainCatcher news, Fox reporter Eleanor Terrett stated on Twitter that Grayscale issued a statement regarding the SEC's decision not to seek a rehearing: "The 45-day deadline to seek a rehearing as stipulated by the federal appellate procedure rules has now passed. The court will issue a final authorization within 7 days. The Grayscale team is operationally prepared to convert GBTC to an ETF once SEC approval is obtained."

ChainCatcher previously reported on October 13 that Fox reporter Eleanor Terrett tweeted that the SEC would appeal Grayscale's decision before midnight on October 13. If the SEC does not appeal, the case will be closed within the next 7 days, and Grayscale can begin working with SEC staff to initiate the approval process. At that time, Grayscale will collaborate with the SEC's Division of Corporation Finance and the Division of Trading and Markets.