“The SEC employees requested that Grayscale search withdrawal of the registration assertion promptly,” Grayscale mentioned. “Grayscale doesn’t imagine that FIL is a safety beneath the federal securities legal guidelines and intends to reply promptly to the SEC employees with an evidence of the authorized foundation for Grayscale’s place. Grayscale can’t predict whether or not the SEC employees shall be persuaded that Grayscale’s place is right, and if not, whether or not it could change into essential for Grayscale to hunt lodging that will allow the Belief to register beneath the Funding Firm Act of 1940 or, alternatively, search dissolution of the Belief.”
