NEW: The SECGov has until midnight tonight to appeal the @Grayscale decision. If they don’t, then in seven days from now the case will be closed and Grayscale can start working with SEC staff to get the process of approval rolling.

Today is the deadline for the SEC to appeal the Grayscale Bitcoin Spot ETF decision. Rumour is If they don't appeal the court's decision, It is likely to Grayscale Bitcoin Trust (GBTC) will convert into ETF soon. The Grayscale Trust (GBTC) discount has narrowed from -45% to only -16.6 and climbing. This make market bullish.Jan 10: Critical decision point for other spot BTC ETF proposals.
Bloomberg analysts see a 75% chance of spot bitcoin ETF approval by end of 2023.
Conclusion: Seems Sec will find some way to delay it and may be Grayscale file new application for ETF which take another 240 days. In short, it may take time, expected Q1/2024.
$BTC #bitcoin #ETF #BitcoinETF #GBTC #crypto2023