GBTC Lawsuit Latest Updates
On June 29, 2022, Grayscale Senior Legal Strategist, former U.S. Solicitor General, and partner at Munger, Tolles & Olson, Donald B. Verrilli, Jr. filed a petition for review with the United States Court of Appeals for the District of Columbia Circuit on behalf of Grayscale — the first step in a litigation process to contest the Securities and Exchange Commission’s (SEC) decision on our proposal to uplist Grayscale Bitcoin Trust (BTC) to a spot Bitcoin ETF*.
On August 29th, 2023, the D.C. Circuit unanimously ruled in favor of Grayscale in our lawsuit to uplist GBTC to an ETF, vacating the SEC’s initial denial order.
We intend to update this web page to keep our investors and partners apprised of next steps and key information throughout the rest of the appellate process.
*We use the generic term “ETF” to refer to exchange-traded investment vehicles, including those that are required to register under the Investment Company Act of 1940, as amended (the “‘40 Act”), as well as other exchange-traded products which are not subject to the registration requirements of the ‘40 Act.
APPELLATE PHASE TIMELINE
Amicus briefs for Grayscale are filed
Amicus Briefs in Support of Grayscale
*By AUM as of 9/30/2023
Grayscale Bitcoin Trust (BTC) (the “Trust”) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Trust has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus (when available) if you request it by emailing email@example.com or by contacting Grayscale Securities, LLC 290 Harbor Drive, Stamford, CT 06902.