The US appeals court confirmed its decision in August in the case between the Securities and Exchange Commission and Grayscale.
According to the official decision announced on Monday, the appeals court did not make any changes to its decision dated August 29, 2023 in the SEC-Grayscale case.
Accordingly, the Securities and Exchange Commission rejected the application of Grayscale, which is trying to convert the Bitcoin trust called GBTC into an exchange traded fund (ETF). will reconsider. The SEC announced that it would not appeal the court’s decision.
Grayscale filed and refiled an S-3 last week as a summary of its previously filed S-1 for the Bitcoin ETF.
Grayscale plans to list shares of GBTC on NYSE Arca under the ticker symbol GBTC.
Apart from Grayscale, big names such as BlackRock and Fidelity are also waiting for approval from the SEC to establish a spot Bitcoin ETF.
Bitcoin price rose to $36,000 after iShares Bitcoin Trust was listed on the Depository Trust & Clearing Corporation (DTCC) under the ticker $IBTC.