Grayscale has announced that it is ready to convert GBTC to an ETF after receiving approval from the SEC.

According to a BlockBeats report on October 16th, Fox Business reporter Eleanor Terrett posted on her social media platform that Grayscale, a crypto investment firm, issued a statement regarding the decision not to appeal the US SEC's ruling. The statement said, "The 45-day deadline to seek a review under the Federal Rules of Appellate Procedure has passed. The court will issue a final authorization within 7 days. The Grayscale team is ready to convert GBTC to an ETF once it receives SEC approval."