SEC Chair Gensler declined to comment on a potential appeal to a high profile Grayscale ruling as the deadline for that filing approaches.
Securities and Exchange Commission Chair Gary Gensler was mum about a potential appeal to a high profile ruling involving Grayscale Investments' attempt to convert its flagship fund into a spot bitcoin ETF, declining to comment on the matter when asked by journalists at a press conference on Friday.
The asset management firm sued the agency last year following its rejection of the plan for the conversion of its GBTC fund. However, if the SEC does appeal before midnight, that could lead to an en banc hearing, meaning a rehearing with all three judges who participated in the initial ruling. Grayscale first brought the case against the SEC last year for the rejection of its proposal to convert its flagship fund, GBTC, into a spot bitcoin ETF. Don Verrilli, lead counsel for Grayscale, said during oral arguments in March that the SEC is contradicting itself by allowing bitcoin futures ETFs, but not a spot bitcoin ETF.
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