Grayscale Investments announced it will sue the U.S. SEC for denying its application to convert its fund into a spot bitcoin ETF.
- Grayscale Investments is suing the SEC for denying its application to convert GBTC into an ETF.
- The filing was submitted yesterday evening by the former top legal mind that served in the Obama administration as U.S. solicitor general.
- Over 11,000 comment submissions were sent to the SEC by investors, 99% of which were positive towards the transition of GBTC into an ETF.