One of the largest US-based crypto investment fund companies grayscaleannounced that it has submitted its final summary to the court for the ongoing lawsuit with the SEC.
Grayscale officials stated that they actually sent the same thing as the old documents, but added additional references and citations due to the request of the judge.
“The documents we submitted to the court are essentially the same as the ones we submitted before. However, we used extra expressions to make it more understandable. Jurors will understand the new summary more easily.”
The American Securities Commission SEC has repeatedly rejected the crypto ETFs that the company has applied for. The government agency has approved derivative Bitcoin products from other companies ProShares and Valkryie. However, Grayscale’s spot ETF application faced major hurdles.
spot due to SEC principle cryptocurrency He’s cold towards his products. Public officials took this stance. “The volatility of Bitcoin” basing it. According to the commission, a spot Bitcoin fund is a major risk factor due to volatility.
The next defense hearing of the case will take place on March 7, 2023. Grayscale, SEC’s stance “illogical” described as.