According to Coinglass data, the current total value of Grayscale's holdings is approximately $23.592 billion, with Grayscale Bitcoin Trust Fund (GBTC) having a negative premium rate of 18.97%; ETH Trust has a negative premium rate of 25.26%. In addition, ETC Trust has a negative premium rate of 48.20%, and LTC Trust has a negative premium rate of 15.60%.

According to on-chain data analyst Yu Jin, at 7:07 and 8:07 today, a large-scale transfer of ETH occurred. 74 addresses transferred 620,056 ETH (approximately 960 million US dollars) to 74 new addresses through 74 transactions. Most of these addresses have been marked by Arkham as Grayscale: Ethereum Trust or simply for changing storage addresses.

Grayscale has informed the Securities and Exchange Commission that it sees no legal reason to prevent the conversion of its Bitcoin fund to a spot exchange-traded fund. The company's lawyers have requested a meeting with the regulator to discuss the next steps following the court's decision to allow the conversion.

According to a report by Arkham Intelligence, Grayscale has amassed approximately $5 billion worth of Ethereum, making it the second-largest Ethereum entity in the world. Grayscale's Ethereum Trust Fund is one of the top-rated crypto funds in the industry.

In addition, CCData's report emphasizes that Grayscale's GBTC fund significantly increased its assets under management (AUM) by $1.17 billion on August 29th and 30th (the day of and the day after the court victory). This significant growth brings Grayscale's total assets under management to $17.4 billion.

Grayscale CEO Michael Sonnenshein has described the recent US appeals court decision overturning the SEC's block of his firm's proposed spot Bitcoin ETF as a "huge win." The ruling has raised hopes for the launch of the first US ETF directly investing in Bitcoin. Sonnenshein expressed uncertainty about the next steps for Grayscale, mentioning the final operational procedures and the 45-day window for an en banc hearing. The market reacted swiftly to the news, with GBTC shares surging 17% but later dipping, indicating some skepticism.

Following Grayscale's victory over the US SEC on Tuesday, Bitcoin's price quickly recovered and surged past $27,500. However, it has since undergone a partial retracement and is currently trading at $27,240. On-chain data shows sustained trading volumes, with a significant resurgence of trader attention on Bitcoin. Large holders in the cryptocurrency space may have had insights about the Grayscale and SEC legal case's result, as wallets holding 10,000 to 10,000 Bitcoin collectively acquired around $388.3 million worth of BTC.

Vivek Ramaswamy, a US presidential candidate and pro-Bitcoin Republican, has praised Grayscale's recent victory over the Securities and Exchange Commission (SEC), stating that it will help keep Bitcoin and blockchain innovation in the US. Ramaswamy criticised the "unlawful rogue behaviours" of government agencies and argued that the US courts should serve as a last line of defence to keep cryptocurrency innovators in the country.

According to Bloomberg Intelligence's lawsuit analyst in a report on Wednesday, Grayscale's victory over the SEC could pave the way for the company to convert it into the first spot Bitcoin ETF in the United States. This change would allow redemption of fund shares, making Alameda's lawsuit unnecessary, which demands that GBTC reduce fees and implement a redemption plan. Redemption may align the value of the fund with the value of the Bitcoin it holds, which has been a long-standing demand of the fund.

After the decision made by Grayscale on Tuesday, Ohio US Congressman Warren Davidson called for the removal of Securities and Exchange Commission (SEC) Chairman Gary Gensler. Regarding the ruling on Grayscale's lawsuit, Congressman Davidson wrote that Grayscale's victory provided more evidence that Gary Gensler's behavior at the SEC was arbitrary and capricious.