Grayscale has recently threatened legal action against the SEC if they decide not to approve their plans to change the Grayscale Bitcoin Trust (GBTC) into an ETF. These threats loom due to the SEC approving futures-backed Bitcoin funds but delaying those in spot product. Grayscale has been pushing towards this change for a while and the SEC has opted to get the public’s opinion on the change, asking them to give their input before early July.
ETF Newz Says: Well this is an interesting development. Perhaps this has taken place because the SEC has actually delayed a rejection or approval of other companies that are awaiting spot Bitcoin approval.