Grayscale says SEC filed first legal brief in ongoing bitcoin futures ETF lawsuit

Quick Take

  • Grayscale Investments said the SEC has filed its first legal brief in the lawsuit the crypto asset manager filed over the rejection of its application for a spot bitcoin exchange-traded fund.
  • In the 73-page response brief, the SEC argued its rejection was “reasonable, reasonably explained, supported by substantial evidence.”

Grayscale Investments said the U.S. Securities Exchange Commission has filed its first legal brief in the lawsuit the crypto asset manager filed over the rejection of its application for a spot bitcoin exchange-traded fund.

"This is the next milestone in our ongoing litigation following the filing of our opening brief on October 11 and the supporting amicus briefs