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Grayscale’s Bitcoin ETF Battle to Receive Oral Arguments on March 7

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– Grayscale Investment’s lawsuit against the Securities and Exchange Commission (SEC) will have oral arguments on March 7, 2023.
– Both sides will present their arguments at the District of Columbia Court of Appeals at 9:30 am local time.
– Grayscale Chief Legal Officer Craig Salm said the newly filed motion was “welcome news” as they were previously anticipating oral arguments to be scheduled “as soon as Q2.”

Grayscale Investment’s lawsuit against the Securities and Exchange Commission (SEC) is set to go to the District of Columbia Court of Appeals for oral arguments on March 7, 2023. The appeals court will hear both sides of the case, as Grayscale is challenging the SEC’s decision to deny its Bitcoin (BTC) spot exchange-traded fund (ETF). The argument panel in the Grayscale case will be revealed on February 6, 30 days prior to the date of the oral argument, while the amount of time for the argument will be set in a separate order, according to a court motion filed on January 23.

Grayscale Chief Legal Officer Craig Salm expressed his excitement in a tweet, stating the newly filed motion was “welcome news” as they were previously anticipating oral arguments to be scheduled “as soon as Q2.” Salm went on to explain that the quicker timeline was encouraging, as it allowed them to present their case and arguments much sooner than expected.

Oral arguments are spoken presentations delivered by attorneys summarizing why their clients should win the case. Each party in the case takes turns directly speaking and answering questions from the judge and is given equal amounts of time to do so. Ultimately, the court of appeals will hear the arguments and then make a decision on whether or not the SEC’s decision to deny Grayscale’s Bitcoin ETF is valid.

Grayscale has been at the forefront of the push for a Bitcoin ETF, ever since it first filed its application in January 2020. The company has been vocal in its support of the cryptocurrency, and has been actively trying to get the SEC to approve its Bitcoin ETF. While the SEC has yet to make a decision, Grayscale remains hopeful that the appeals court will ultimately rule in its favor.