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Grayscale fires first salvo in case against SEC over Bitcoin ETF refusal

by Repost Admin October 12, 2022, 5:42 am 1.2k Views

The SEC must submit its brief by Nov. 9. After that, Grayscale will then submit a reply brief on Nov. 30 before both parties submit a final brief on Dec. 21.

Digital asset manager Grayscale has filed its opening brief against the U.S. Securities Exchange Commission (SEC) to challenge its decision denying Grayscale’s application to convert the Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF.

The world’s largest digital asset management firm filed its opening legal brief on Oct. 11 in the U.S. Court of Appeals in the District of Columbia Circuit, in which it claimed the SEC’s knockback to be “arbitrary, capricious and discriminatory.”

Grayscale argued that the SEC treats spot Bitcoin Exchange-Traded Products (ETPs) with “special har