Grayscale Hires Former Solicitor General to Help Force Bitcoin ETF Approval

Grayscale Investments has hired a former U.S. Solicitor General in preparation for a potential legal spat with the U.S. Securities and Exchange Commission (SEC), should the regulator reject its application for a spot Bitcoin (BTC) exchange-traded fund (ETF) on July 6. The company has been waiting on a decision from the SEC to convert its flagship $19.8 billion Grayscale Bitcoin Trust (GBTC) into a spot-based ETF, since filing its application to the regulator on October 19, 2021. The SEC has pushed back its decision on multiple occasions, once in December and again in February. A final decision on the application is expected on July 6.