Odaily News According to court documents, Grayscale has won a lawsuit against the SEC. Earlier on October 12, 2022, it was reported that Grayscale had submitted an opening brief in its lawsuit against the U.S. Securities and Exchange Commission (SEC) for rejecting its application for a spot Bitcoin exchange-traded fund. Craig Salm, Chief Legal Officer of Grayscale, stated that spot ETFs and futures ETFs have "no significant differences" under the backdrop of Bitcoin, as the pricing of Bitcoin futures on the Chicago Mercantile Exchange is inherently lower than that of the spot Bitcoin market. The brief stated that the SEC failed to demonstrate why it would treat Bitcoin futures ETPs and spot Bitcoin ETPs differently, thereby violating the most basic requirements of the U.S. Administrative Procedure Act.

Odaily News: Grayscale CEO Sonnenshein expressed gratitude for the favorable ruling by the Washington D.C. Circuit Court towards Grayscale in a post on X (formerly Twitter) platform. He thanked the investors for their support and encouragement. Additionally, Grayscale's legal team is actively reviewing the court's opinion.

Odaily星球日报讯 彭博ETF分析师James Seyffart在X（原Twitter）平台上发文表示，灰度赢得诉讼虽然不意味GBTC可自由转换为ETF，“但这使转换一事又向前迈进了一步”。

Odaily星球日报讯 据彭博ETF分析师James Seyffart监测，GBTC负溢价已从昨日的25%收窄至17%，且负溢价幅度仍在持续收窄。

Odaily News: Adam Cochran, Partner at Cinneamhain Ventures, posted on X (formerly Twitter) platform stating that the SEC has three options regarding the court ruling: delay the decision and present new reasons for rejection, acknowledge and approve (Grayscale ETF), or request an en banc appeal to the full panel of judges. However, considering the reasons for the court ruling and the fact that they repeatedly pointed out the committee's failure to support any of their arguments, an en banc appeal would be a terrible decision, potentially only provoking the court. In previous news, Bloomberg ETF analyst James Seyffart stated that the SEC can file an en banc appeal application within 45 days.

Odaily News: U.S. Securities and Exchange Commission (SEC) spokesperson: The SEC is reviewing the court's ruling on the Grayscale Bitcoin ETF issue to determine the next course of action. (Golden Ten)

Odaily News - In an official statement, Craig Salm, the Chief Legal Officer of Grayscale, stated, "We appreciate the opinion of the Washington D.C. Circuit Court, which recognizes the straightforward issue regarding equal treatment under the law in this case. At the same time, we are grateful to the legal teams at Munger, Tolles and Olson, Davis Polk, and Wardell. Moving forward, we will closely collaborate with the SEC to develop a plan to introduce GBTC as a physically-backed Bitcoin ETF on NYSE Arca."