On October 19, US SEC Chairman Gary Gensler said in an interview with Bloomberg: The SEC received 8-10 documents from ETF issuers; There is a process for (approvals) and I look forward to hearing suggestions from staff.
Bloomberg ETF analyst Eric Balchunas said that courts will mostly only reiterate what they have already said and will not ask the SEC to convert GBTC (for spot ETFs), which is not part of the court's power. So even if the grayscale GBTC wins, the SEC controls its fate to some extent.
