GBTC LAWSUIT
LATEST UPDATES
On June 29, 2022, Grayscale Senior Legal Strategist, former U.S. Solicitor General, and partner at Munger, Tolles & Olson, Donald B. Verrilli, Jr. filed a petition for review with the United States Court of Appeals for the District of Columbia Circuit on behalf of Grayscale — the first step in a litigation process to contest the Securities and Exchange Commission’s (SEC) decision on our proposal to convert Grayscale Bitcoin Trust (BTC) to a spot Bitcoin ETF*.
We’re in the midst of the appellate phase of the litigation process – including initial filings, briefings, oral arguments, and a final court decision – can typically take about a year, but could be shorter or longer. We intend to update this web page to keep our investors and partners apprised of various litigation milestones and information.
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APPELLATE PHASE TIMELINE
June 29, 2022
The SEC denies Grayscale’s application to convert GBTC to an ETF.
June 29, 2022
August 17, 2022
October 11, 2022
October 18, 2022
December 9, 2022
January 13, 2023
January 23, 2023
Latin for “friend of the court”, briefs from interested third parties offering information, expertise, or insight that has a bearing on the issues in the case.
Amicus Briefs in support of Grayscale
- The Chamber of Commerce of the United States of America (10/18/2022)
- Investors Choice Advocacy Network, joined by economic and law professors, and former SEC, CFTC and OCC officials (10/18/2022)
- NYSE Arca (10/18/2022)
- The Blockchain Association, joined by crypto trade associations, think tanks and advocacy groups (10/18/2022)
- Coinbase, Inc. (10/18/2022)
Amicus Briefs In Support of the SEC
Litigation Filings
- Final Reply Brief of Petitioner Grayscale Investments, LLC (2/3/2023)
- Final Reply Brief of Respondent SEC (2/3/2023)
- Final Opening Brief of Petitioner Grayscale Investments, LLC (2/3/2023)
- Oral Arguments Notice (1/23/2023)
- Reply Brief of Petitioner Grayscale Investments LLC (1/13/2023)
- Reply Brief of Respondent SEC (12/09/2022)
- Order Granting Unopposed Motion to Modify Briefing Schedule (10/25/2022)
- Respondent's Unopposed Motion to Modify Briefing Schedule (10/24/2022)
- Opening Brief of Petitioner Grayscale Investments LLC (10/11/2022)
- Order Granting Unopposed Motion to Extend Time (8/30/2022)
- Petitioner’s Unopposed Motion to Extend Time (8/29/2022)
- Certificate Describing the Documents in the Record Before the SEC (8/15/2022)
- Certificate As To Parties, Rulings, And Related Cases (8/1/2022)
- Agency Docketing Statement (8/1/2022)
- Statement Of Intent To Utilize Deferred Joint Appendix (8/1/2022)
- Petitioner’s Statement Of Issues To Be Raised (8/1/2022)
- Underlying Decision From Which Petition Arises (8/1/2022)
- Disapproval Order (SEC Release No. 34–95180) (7/6/2022)
- Scheduling Order (7/1/2022)
- Petition For Review (6/29/2022)
Blogs & Press
- GBTC Lawsuit: Grayscale’s Response Brief (1/13/2023)
- GBTC Lawsuit: The SEC’s Response Brief (12/9/2022)
- GBTC Q&A: Legal Updates (10/25/2022)
- Q&A: Our Lawsuit Against the SEC (7/6/2022)
- The SEC is shunning Bitcoin opportunity: Grayscale CEO (7/6/2022)
- Grayscale CEO breaks down lawsuit against SEC over rejected bitcoin ETF (6/30/2022)
- Grayscale Investments® Initiates Lawsuit Against the SEC (6/29/2022)
- The SEC’s Decision on GBTC (6/29/2022)
- What People Are Saying About a Spot Bitcoin ETF (6/24/2022)
- A Conversation with Don Verrilli (6/23/2022)
