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A U.S. federal court is poised to formally declare Grayscale's victory over the U.S. Securities and Exchange Commission (SEC) in a dispute over spot bitcoin ETF filings, according to Coindesk. A person familiar with the matter said that the court's final action could be made on the day of the deadline on Friday, local time, but it could also be made on the following Monday due to the midnight deadline.

There are several possibilities for the court's next move: it could terminate the case without comment, or it could issue further instructions to the SEC on what to do next.

The industry widely expects the SEC to allow the new ETF, but the exact timing is uncertain. If approved, Grayscale will convert its GBTC to an ETF. the company plans to list on NYSE Arca, at which point the ETF will be widely available to investors.