After trading written legal briefs in recent months, Grayscale Investments and the SEC are now set to exchange oral arguments for the first time in a case to determine whether or not the regulator wrongly denied the firm’s proposed spot bitcoin ETF. Grayscale, a prominent crypto investment firm, sued the SEC last June after the agency did not allow the firm to convert its flagship Bitcoin Trust (GBTC) to an ETF. GBTC launched in 2013 and holds $14 billion in assets. The trust has traded at a discount of more than 40% in recent weeks. Grayscale’s preferred solution is converting the trust to an ETF — the firm says doing so would alleviate GBTC’s discount by introducing liquidity. (Blockworks)
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Eyes Shift to Judges as Grayscale-SEC Saga Moves Forward
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