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Grayscale’s Fight for a Bitcoin ETF Could End in Lawsuit Against SEC

  • CEO Sonnenshein points to futures ETF as basis of argument
  • Campaign to convert largest Bitcoin fund intensifies
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Grayscale Investments CEO Michael Sonnenshein discusses the outlook for crypto and its oversight with Kailey Leinz and Guy Johnson on “Bloomberg Markets.”Source: Bloomberg
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Grayscale Investments LLC’s campaign to convert its almost $30 billion Bitcoin trust into an exchange-traded fund could end with legal action.

The Securities and Exchange Commission’s final deadline to rule on the digital-asset manager’s application to convert the Grayscale Bitcoin Trust (ticker GBTC) into a physically-backed ETF -- a product not yet approved by U.S. regulators -- is July 6. Should the SEC reject the filing, Grayscale would consider a lawsuit as part of its response.