SEC Decides Not to Appeal Its Bitcoin ETF Court Loss Tied to Grayscale’s GBTC

In August, the D.C. Circuit Court of Appeals ruled that the SEC’s denial of Grayscale Investment’s application to convert the Grayscale Bitcoin Trust (GBTC) into an ETF was invalid and must be reviewed, calling it an “arbitrary and capricious” rejection. The court said that federal agencies are required to “treat like cases alike.”