Grayscale wins the case against the SEC regarding the spot Bitcoin ETF, and Grayscale states that GBTC is operationally ready

ChainCatcher news, according to CoinDesk, the D.C. Circuit Court of Appeals has ended the dispute between the U.S. Securities and Exchange Commission (SEC) and Grayscale, with its final ruling ordering the SEC to withdraw its decision to reject Grayscale's spot Bitcoin ETF application. (That is, the SEC rejected Grayscale's application to convert its approximately $17 billion Grayscale Bitcoin Trust (GBTC) into a spot ETF.)

The SEC may choose to approve Grayscale's application or reject it for other reasons. Jennifer Rosenthal stated, "The Grayscale team looks forward to continuing constructive cooperation with the SEC to convert GBTC into an ETF. GBTC is operationally ready, and we intend to take action on behalf of our investors as soon as possible."