According to BlockBeats news on August 31st, German investment bank Berenberg stated in a research report that the US Securities and Exchange Commission (SEC) is likely to propose new reasons for rejection in order to defend the delay of the application for a bitcoin ETF. In addition, the Berenberg analyst team stated that Grayscale's victory may increase the likelihood of "SEC ultimately approving one or more applications for a bitcoin ETF."

According to BlockBeats news on August 31, Bloomberg reported that Grayscale CEO Michael Sonnenshein said that after winning the lawsuit with the US Securities and Exchange Commission (SEC), it is still uncertain whether Grayscale needs to resubmit its application for a spot Bitcoin ETF to the SEC.

BlockBeats news on August 30th, Craig Salm, the Chief Legal Officer of Grayscale, stated in an official statement that "We appreciate the opinion of the Washington DC Circuit Court, which recognizes the straightforward issue of equal treatment under the law raised in this case. At the same time, we are very grateful to the legal teams of Munger, Tolles and Olson, Davis Polk and Wardell. Next, we will work closely with the SEC to develop a plan to introduce GBTC as a spot Bitcoin ETF on NYSE Arca."

BlockBeats reported on August 29th that according to Jinshi, a spokesperson for the US Securities and Exchange Commission (SEC) stated that the SEC is reviewing the court's ruling on the Grayscale Bitcoin ETF issue to determine the next steps.

BlockBeats news on August 29th, Adam Cochran, a partner at Cinneamhain Ventures, stated on his social media platform that the SEC has three options regarding the court ruling: postpone the decision and provide new reasons for rejection; acknowledge and approve (the Grayscale ETF); or request a full panel of judges to appeal the case. However, considering the reasons for the court ruling and the fact that they repeatedly pointed out the committee's failure to support any of its arguments, a full panel appeal would be a terrible decision that could only anger the court.

BlockBeats news, on August 29th, Bloomberg ETF analyst James Seyffart stated on social media that the SEC could file an appeal for a full en banc hearing within 45 days. This means that the case will be heard by all judges in court (17 in this case), instead of just a panel of 3 judges as in the initial ruling.

BlockBeats news, August 29th, Grayscale CEO Sonnenshein expressed gratitude on his social media platform for the favorable ruling by the Washington DC Circuit Court in favor of Grayscale, and thanked investors for their support and encouragement. In addition, Grayscale's legal team is actively reviewing the court's opinion.

BlockBeats reported on August 29th that James Seyffart, an ETF analyst at Bloomberg, stated on social media that although Grayscale's victory in the lawsuit does not necessarily mean that GBTC can be freely converted to ETF, "this has taken the conversion one step forward."

According to court documents, Grayscale has won a lawsuit against the SEC. On August 29, BlockBeats reported that a three-judge panel in Washington overturned the SEC's decision to block the Grayscale ETF. The court stated that "refusing Grayscale's proposal was arbitrary and capricious, as the SEC failed to explain its differing treatment of similar products." As previously reported by BlockBeats, on October 12 last year, cryptocurrency asset management company Grayscale Investments submitted an opening brief in its lawsuit against the US Securities and Exchange Commission (SEC) for rejecting its application for a Bitcoin exchange-traded fund. Grayscale Chief Legal Officer Craig Salm stated that spot ETFs and futures ETFs "have no difference under the Bitcoin background," as "the pricing of CME Bitcoin futures itself is lower than the spot Bitcoin market." The brief stated that the SEC failed to demonstrate why it would have a fundamentally different approach to approving Bitcoin futures ETPs and spot Bitcoin ETPs, thus violating the most basic requirements of the US Administrative Procedure Act.