Grayscale urges SEC to approve GBTC spot bitcoin ETF after court vacates denial

Grayscale Bitcoin Trust ETF

D.C. Circuit vacated SEC's June 2022 order denying GBTC conversion to a spot bitcoin ETF on Aug 29, 2023.
Comment letter argues no grounds exist to treat spot bitcoin ETP differently from approved bitcoin futures ETPs.
GBTC's Rule 19b-4 filing has been pending nearly three times the statutory deadline under Section 19(b).
On court decision day, the discount to NAV tightened 600 basis points, returning over $2B in value to investors.
Grayscale states GBTC is ready to operate as an ETF upon approval and urges prompt NYSE Arca listing.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.