In August, the D.C. Circuit Court of Appeals ruled that the SECโs denial of Grayscale Investmentโs application to convert the Grayscale Bitcoin Trust (GBTC) into an ETF was invalid and must be reviewed, calling it an “arbitrary and capricious” rejection. The court said that federal agencies are required to โtreat like cases alike.โ
SEC Decides Not to Appeal Its Bitcoin ETF Court Loss Tied to Grayscale’s GBTC
