Bitcoin spot ETF data update, first look at the SEC's response to Grayscale this week.

The SEC may require a resubmission of the complete 19b-4 form, or the SEC may say we will issue a new order within 45 days, 60 days, 90 days. No one knows what the next steps will be!

Is there a solution to Grayscale's GBTC transformation this week?

With many Bitcoin spot ETFs delayed until mid-January next year, the market is currently focusing on whether there is a solution to Grayscale's GBTC transformation! After the SEC experienced its first setback in the Grayscale GBTC transformation lawsuit, the 45-day period for appeal has now passed, and the SEC has no plans to appeal the case. Grayscale has also stated that as long as it is approved by the SEC, it will convert GBTC to an ETF.

However, Bloomberg analyst James Seyffart reminds everyone not to be too optimistic:

i'm very much aware. We might find out this week that the SEC will require 19b-4 to be re-filed completely. Or the SEC could say we will issue a new order in 45, 60, 90 days etc. No one knows next steps. Not even Grayscale

— James Seyffart (@JSeyff) October 17, 2023