The Securities and Exchange Commission (SEC) has until midnight to appeal a recent court decision in favor of Grayscale. So far, the SEC has not made any statements regarding the ruling. If the SEC does not appeal, the court will likely issue a mandate on how to proceed. This could involve revisiting the application or approving Grayscale’s request for a spot Bitcoin ETF. GBTC shares have seen a modest increase, and if approved, the conversion would bring Grayscale’s share value up to parity with its Bitcoin holdings. Grayscale is also seeking to convert its Ethereum Trust into a spot Ethereum ETF.

AI Sentiment: Neutral