The SEC has denied Grayscale Investments' application to convert GBTC into an open-ended ETF. Grayscale immediately filed suit to appeal.I was on the wrong side of this trade. The crypto world this year has been pure chaos, but it is still possible for Grayscale to win in court.What this means for investors in GBTC and Bitcoin.Grayscale Investments Vs. The United States Of AmericaAfter a long wait, the Securities and Exchange Commission has ruled to deny Grayscale Investments' petition to convert the Grayscale Bitcoin Trust (
