Grayscale Bitcoin ETF decision could happen this week, pundits say
Grayscale Investments, which has been seeking to convert its Bitcoin (BTC) trust into a spot Bitcoin exchange-traded fund, could be getting a decision on its lawsuit against the federal securities regulator before the week’s end.
In an Aug. 11 tweet, Scott Johnsson, a general partner of Van Buren Capital, explained that law clerks in the United States District Courts generally cycle out in August, pushing judges to clear out the caseload “before the new guard arrives.”
He noted that 30 out of 32 cases in March of 2021 and 2022 were heard by United States District Courts within 160 days of oral testimony, which also landed them in August, adding that it has also been 160 days since Grayscale delivered its oral arguments in its suit against the United States Securities and Exchange Commission on March 7.
March '21/'22 cases with decisions within 160 days of oral: 30/32 (94%)Days since Grayscale (March '23) oral: 160 daysWhy should we expect August? Because law clerks for DC generally cycle in/out this month, so judges aim to clear prior caseload before the new guard arrives. https://t.co/vVj0dHus90
As of now, including Grayscale, there are only a small number of unresolved March-argued cases that remain, Johnsson added.
Meanwhile, Bloomberg analyst James Seyffart says the decision could even come as early as Aug. 15, noting the date has been his “theoretical Grayscale lawsuit decision date” for some time.
8/15 has been my theoretical Grayscale lawsuit decision date for a while now but it’s really just an educated guess. I didn’t even do detailed analysis on the court decisions like @SGJohnsson did. But I did a little bit of it and also had convos with @NYCStein about timelines
Johnsson added in his thread that Seyffart’s
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