- Oral arguments will now be heard on March 7, at 9:30 a.m
- The SEC rejected Grayscale’s request to convert GBTC into an ETF.
- Crypto experts believe that converting around GBTC will help investors.
The District of Columbia Court of Appeals has announced that it wants to expedite the oral arguments in Grayscale’s lawsuit against the Securities and Exchange Commission (SEC) for a speedy resolution of the dispute.
Grayscale was expecting verbal arguments to begin in the second quarter. However, it will now be heard on March 7, 9:30 a.m. Last year, in June, Grayscale sued the SEC in June 2022 after the SEC refused to allow the conversion of the Grayscale Trust (GBTC) into an ETF but approved a similar ETF. for ProShares based on Bitcoin futures in October 2021.
The ruling faced several delays but the SEC denied Grayscale’s request saying that Grayscale had not answered questions about concerns about market manipulation and investor protection.
Crypto experts believe that the SEC allowing Grayscale to convert GBTC into an ETF would help investors further. They commented, “The SEC’s inaction has prevented bitcoin from advancing into the US regulatory periphery, often forcing US investors offshore with less protection and…
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