Home
News
- The legal team of Grayscale Investments LLC welcomes Donald B. Verrilli Jr, an American lawyer who has worked under the Obama Administration.
- The on-boarding of Verrilli comes as Grayscale continues its mission to convert its Grayscale Bitcoin Trust(GBTC) into a spot Bitcoin exchange-traded fund.
- Grayscale keeps encouraging its customers to render their support for GBTC’s conversion with the SEC.
With the on-boarding of Donald B. Verrilli Jr, the legal team of Grayscale Investments LLC has become more strong. An American lawyer, Donald Beaton Verrilli Jr., acted as the Solicitor General of the United States from 2011 into 2016 under the Obama administration. Verrilli was the top lawyer at that time and represented the government in several Supreme court cases. Now, he will serve as an additional counsel for Grayscale.
Meanwhile, the digital asset firm continues its goal to convert its Grayscale Bitcoin Trust(GBTC) into a spot Bitcoin exchange-traded fund.
The decision for Grayscale comes at a time when the company approaches on July 6 for the Securities and Exchange Commission (SEC) to arrive at a decision on the application of Grayscale to convert GBTC to a spot bitcoin ETF. October 2021 was the first time that the firm applied for the conversion.
A Grayscale spokesperson highlighted that the long experience of Verrilli before the high court, including big wins defending the Affordable Care Act and legal recognition of same-sex marriage, he stated that it’s paramount that Grayscale has the strongest legal minds working on our application to convert GBTC to an ETF, and also shared that excitement about the joining of Verrilli outstanding legal team.
In May, the firm revealed that it had a “productive” meeting with the SEC. The firm made its case for an approval in the meeting. The spokesperson further added that Grayscale possessed quite a devotion regarding the conversion of GBTC to an ETF. The firm’s commitment can be measured from the fact that it has prepared for all the scenarios. The spokesperson also added that they have ensured that GBTC is operationally prepared for the conversion of an ETF. At the same time, they explore options whether they should allow GBTC to convert to an ETF.”
Meanwhile, Grayscale keeps encouraging its customers to share their support for GBTC’s conversion with the SEC.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
