Hours Left: Court’s Grayscale Decision Coming!

Grayscale, potential verdict in SEC lawsuit looming. According to some experts, it is possible that the decision in the focus of the market will come out today. Experts say there are plausible reasons for this. Meanwhile, Grayscale is confident in the outcome and is strengthening the Bitcoin ETF team.

Mahmeme, Grayscale can announce its decision today!

Grayscale filed a lawsuit with the SEC last June after its proposal to convert its Bitcoin Trust into an ETF was rejected. About 1 year has passed in the lawsuit filed by Grayscale. Some experts suggest that the decision could come out today. This view is mostly expressed by Bloomberg experts. Experts, who had been waiting for the decision on August 15, postponed their hopes until today. Bloomberg Analyst James Seyffart said on Monday that a verdict in Grayscale’s case could come out this week.

Meanwhile, Finance attorney Scott Johnsson is making some calculations for today’s decision anticipation. Johnsson states that in cases that started in March in 2021 and 2022, decisions were made within 160 days. In this context, Johnsson notes that 160 days have passed since the first hearing for the Grayscale case. Therefore, it supports the expectations that the decision will come out today.

Grayscale empowers Bitcoin ETF team

Grayscale Investments said on Thursday that the expected verdict in its lawsuit against the SEC could be forthcoming soon. He even emphasized that he has expanded his ETF team because of this. “Our ETF team is recruiting,” he said on Grayscale X, adding a series of eye emojis. According to LinkedIn, two positions have been announced over the past week, a product specialist to assist the ETF team and a senior associate. More than 50 applications have been received in total for the recently posted positions.

Grayscale’s senior partner will contribute investment product development ideas. It will also work with the ETF team to bring these to life. According to the statement, the product specialist will work closely with the sales, operations, marketing and product teams to optimize the investor experience, with a particular focus on ETFs.

What is the difference between Spot Bitcoin ETF and GBTC?

GBTC is an investment vehicle that gives investors exposure to Bitcoin without directly holding the asset. Unlike a spot Bitcoin ETF that would make it cheap and easy for institutions to buy and sell Bitcoin, GBTC does not have a redemption mechanism that affects Bitcoin’s ability to track its price and charges higher fees. Names like John Reed, the former head of the SEC’s Internet Enforcement Office, say the agency is unlikely to approve a spot Bitcoin ETF listing. However, the decision in Grayscale’s case may leave the institution no choice.

Converting GBTC to a spot Bitcoin ETF will allow the firm to charge lower management fees and address a “discount” that has caused GBTC shares to trade at a lower value compared to $18 billion Bitcoin. The discount in question is due to the current structure of the fund, where GBTC shares cannot be used against Bitcoin.