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The D.C. Circuit Court of Appeals has brought closure to the dispute between Grayscale and the U.S. Securities and Exchange Commission (SEC), delivering a final ruling that effectively instructs the agency to reconsider its rejection of the asset manager's proposal for a spot bitcoin ETF.

ARK Investment's GBTC Sale Hints at ETF Strategy in a Market on the Move.

Grayscale's pioneering push for a Bitcoin ETF, breaking new ground in cryptocurrency investment.

Grayscale's Bitcoin Trust (GBTC), recognized as the world's foremost bitcoin investment vehicle, has typically been traded at a markdown compared to the actual value of the Bitcoin it possesses.

The narrowing of the GBTC discount indicates an increasing likelihood of Grayscale smoothly transitioning its closed-end bitcoin trust into an open-ended, spot-based exchange-traded fund (ETF).

Market participants are displaying confidence in a development that has raised hopes for the approval of a spot bitcoin ETF in the United States.