The U.S. federal court may issue a final ruling on the Grayscale vs. SEC case as early as this week

ChainCatcher news, according to CoinDesk, the U.S. federal court is prepared to officially rule in favor of Grayscale in its dispute with the U.S. SEC over the Bitcoin spot ETF. According to the procedures for such cases, after the SEC decided last week not to appeal the court's ruling, the D.C. Circuit Court of Appeals has seven days to conclude the case. The deadline is this Friday, and the court can choose to terminate the case without comment or issue further instructions to the SEC regarding the next steps.

According to a source familiar with the matter, the court's final ruling may be announced on Friday local time or next Monday. The industry widely expects that the SEC will approve new ETFs, but it is uncertain whether this will happen later this year or sometime in 2024. If approved, Grayscale will convert its Bitcoin trust GBTC into an ETF and list it on the NYSE Arca.