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Grayscale expects that the ruling on its lawsuit challenging the SEC's rejection of spot Bitcoin ETF application to come in by fall this year.
BlackRock's Bitcoin ETF applications has renewed optimism surrounding Grayscale's GBTC shares.
Congressman Brad Sherman Sherman asked the SEC if Regulation M was a barrier to GBTC shareholder redemptions.
Those funds involve Bitcoin ETPs, Ethereum futures, and to a lesser extent, Zcash.
The company aims to deliver $250 million to customers through its legal case.
GBTC's discount has widened to over 47% following the struggles of its parent company, Digital Currency Group (DCG).
DCG sold some of its Grayscale Ethereum shares at $8 per share — raising approximately $22 million, according to the Financial Times.
The smaller firm has complained about Grayscale's promises around GBTC.
The next stage of legal proceedings will take place sooner than expected.
