Grayscale had its day in court, and now the asset manager — and investors in its Grayscale Bitcoin Trust — must await the ruling, which could take three to six months. The asset manager brought the case against the U.S. Securities and Exchange Commission for rejecting its proposal to convert its flagship fund, GBTC, into a spot bitcoin ETF in June of last year. Lead counsel Don Verrilli laid out his arguments as expected and fielded questions from Chief Judge Sri Srinivasan and Judges Harry Edwards and Neomi Rao. SEC senior counsel Emily Parise's argument hit an early roadblock as Judge Rao questioned the regulator's ... (full story)