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The smaller firm has complained about Grayscale's promises around GBTC.
Mike Dalton 2 min read 
The next stage of legal proceedings will take place sooner than expected.
Craig Salm said GBTC conversion to a spot BTC ETF will "effectively close the current discount to NAV and unlock over $4 billion of value."
Nearly all Grayscale funds have been trading at high discount rates.
Grayscale Investment CEO Michael Sonnenshein has informed GBTC shareholders that the firm could offer to buy back up to 20% of the outstanding shares worth approximately $10.7 billion,
Crypto analyst Willy Woo said selling GBTC is bullish for Bitcoin's price, as it leads to buying spot BTC.
Bank of England speculates FTX collapse is a result of FTT run, Litecoin recently climbs market cap ranking, and much more in this edition of CryptoSlate Wrapped Daily.
Grayscale holds over 635,000 BTC worth over $10 billion and 3.1 million Ethereum, valued at $3.7 billion.
The advocacy groups said the SEC's refusal to approve a spot Bitcoin ETF limits American investors' choice, which is a violation of the Administrative Procedures Act.
