The US Securities and Exchange Commission will not ask a federal appeals court to reconsider a ruling that paves the way for Grayscale Investments LLC to launch a spot Bitcoin exchange-traded fund, according to a person familiar with the matter.
In August, the DC Circuit Court of Appeals overturned the SEC’s rejection of Grayscale’s bid to convert its trust into an exchange-traded fund. The ruling was made by just three of the judges on the court and the regulator could have sought a review by a full slate of judges. The agency is not planning any other appeals in the case, said the person, who asked not to be identified discussing the ongoing matter.
