‘All Options’ on the Table in Grayscale’s Fight for Bitcoin ETF

Grayscale Investments LLC’s campaign to convert its almost $30 billion Bitcoin trust into an exchange-traded fund could end with legal action.

The Securities and Exchange Commission’s final deadline to rule on the digital-asset manager’s application to convert the Grayscale Bitcoin Trust (ticker GBTC) into a physically-backed ETF -- a product not yet approved by U.S. regulators -- is July 6. Should the SEC reject the filing, Grayscale would consider a lawsuit as part of its response.

“I think all options are on the table come July,” Grayscale CEO Michael Sonnenshein, said in an interview at Bloomberg News’s New ...