Grayscale Requests Support From Crypto Community In SEC Case
Grayscale Investments estimates that investors, researchers and other personnel in the digital currency field will fully support it in its legal fight against the Securities and Exchange Commission abroad and release the first exchange traded bitcoin spot trading fund abroad.
Craig Salm, a top legal and regulatory officer, said after receiving more than 11000 letters applicable to the investment management company preparing to change Grace Mette Bitcoin, that the enterprise is expected to be similarly applicable at the end of Tuesday.
Shareholders of trust companies, enterprises such as Coinbase, Susquehanna and Silvergate, and trade research associations such as Blockchain Association and Digital Currency Sales Market Association write letters to trust companies.
The introduction to the amicus curiae case, also known as amicus curiae, is submitted by individuals and teams who have important interests in the matter, but not that of the prosecution party.
The investment management company indicated that, compared with the multiple types of project investments in the 100 page opening newsletter submitted last week, the Committee is viewing Bitcoin spot trading ETFs with a "particularly strict" mentality.
The SEC often rejects the funds that immediately own Bitcoin, including Grayscale's funds, but has allowed several Bitcoin futures trading ETFs.
The newsletter also believed that the Committee's decision "seriously damaged the 850000 investors with private equity shares" and prevented them from obtaining more than $4 billion in unrealized value.
The conversion of the private equity fund into an ETF will eliminate the historical maximum discount (36%) of GBTC's trading call options this month.
After the submission of the final case introduction in December, a panel consisting of three presiding judges will be selected and the date of oral argument will be specified. Salm is likely that this dispute will continue for nearly nine months.
If Grayscale loses in the lawsuit, it can request to conduct a financial institution hearing system with all D.C.Circuits, or appeal to the United States Supreme Court.