FoxBusiness reporter Eleanor Terrett posted on social media that, based on Grayscale's statement that the SEC will not seek a review, the 45-day deadline for seeking a review under the Federal Appeals Procedure Rules has passed. The court will now issue a final authorization within 7 days. The Grayscale team is still prepared for business and, once approved by the SEC, will convert GBTC to an ETF. We look forward to sharing more information as soon as possible if feasible.

Prior to this report, the SEC did not intend to appeal the decision on Grayscale, which is in line with the predictions of many industry insiders. This decision will increase the possibility of converting Grayscale Bitcoin Trust Fund (GBTC) into a more investor-friendly ETF.