The head of the legal department of Grayscale, Craig Salm, has said that the lawsuit against the SEC, initiated by Grayscale Investments, could take one to two years.
According to him, Grayscale firmly believes in its arguments and is confident that the court will rule in its favor.
We should remember that Grayscale Investments filed an application to convert a digital gold-based trust into a spot Bitcoin ETF on October 19, 2021. On December 17, the SEC delayed making a decision on the application, and in February took this step again.
On June 30, Grayscale sued the regulator after the final rejection of her application.
The investment firm has previously pointed out that the SEC’s willingness to approve futures-based Bitcoin ETFs while rejecting orders based on its spot variant may violate administrative procedures law.