Judges Appear Skeptical of SEC Arguments in Grayscale Bitcoin ETF Hearing

A panel of judges appeared skeptical of the SEC's arguments during Tuesday's appeals court hearing in Grayscale's ongoing bid to convert its Grayscale Bitcoin Trust (GBTC) into an ETF. This comes as the GBTC discount to net asset value has narrowed to below 35%, its lowest point since Nov. 7, according to data from TradingView. Grayscale Investments Chief Legal Officer Craig Salm weighs in. Grayscale and CoinDesk are both owned by Digital Currency Group (DCG).