The Chamber of Digital Commerce enthusiastically commends the recent verdict by the D.C. Circuit Court of Appeals in favor of Grayscale, pressing the SEC to revisit the transformation of GBTC into a Bitcoin ETF.  

Grayscale’s own proclamation of this as a “monumental step forward” resonates deeply with The Chamber’s advocacy for democratized access to Bitcoin investments. 

 This momentous event brings forth new opportunities for American investors, fortifying the Bitcoin ecosystem, and is a testament to the unyielding efforts of those championing Bitcoin accessibility, especially through the mechanisms of an ETF. The Chamber previously published a detailed analysis of the investing community’s pursuit of – and the SEC’s increasingly unjustifiable unwillingness to approve – a spot bitcoin ETF. 

Cody Carbone, Vice President of Policy at The Chamber, said, “This decision underscores that the SEC’s ‘regulation by enforcement’ approach is not only unsustainable but also counterproductive. We need clarity, not ambiguity, for true innovation to thrive.” 

While the court’s ruling doesn’t grant immediate approval for Grayscale’s ETF conversion, it does mandate a necessary and fair review. This marks an important inflection point, not just for Grayscale, who will be diligently evaluating their next steps, but also for the broader landscape of digital asset investments. The ruling offers renewed optimism for broadening access to the crypto market for a wider array of investors via a Bitcoin ETF. 

The Chamber of Digital Commerce remains steadfast in its mission, committed to spearheading efforts that drive regulatory clarity, ensuring the digital asset ecosystem thrives in a transparent and predictable landscape. 

**Chamber experts are available for comment. Contact to schedule an interview.**