TechFlow News: According to CoinDesk, a U.S. federal court is preparing to formally rule that Grayscale wins the Bitcoin spot ETF dispute with the SEC. According to the procedures for handling such cases, the D.C. Circuit Court of Appeals has seven days to conclude the case after the SEC decided not to appeal the court's ruling last week. The deadline is this Friday, when the court can choose to terminate the case without commenting, or issue further instructions to the SEC on the next steps.

The court’s final ruling could come on Friday or Monday, according to a person familiar with the matter. The industry generally expects the SEC to approve the new ETF, but it is uncertain whether it will be later this year or sometime in 2024. If approved, Grayscale will convert its Bitcoin Trust GBTC into an ETF and list it on the New York Stock Exchange Arca.