{"id":62632,"date":"2022-06-08T13:57:11","date_gmt":"2022-06-08T10:57:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62632"},"modified":"2025-09-05T19:10:48","modified_gmt":"2025-09-05T16:10:48","slug":"grayscale-hires-former-u-s-solicitor-general-amid-delay-in-gbtc-to-etf-conversion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscale-hires-former-u-s-solicitor-general-amid-delay-in-gbtc-to-etf-conversion\/","title":{"rendered":"Grayscale Hires Former U.S. Solicitor General Amid Delay in GBTC-to-ETF Conversion"},"content":{"rendered":"<p>Donald B. Verrilli Jr. joined Grayscale Investments&#8217; team overseeing digital assets as counsel, according to Jennifer Rosenthal, the company&#8217;s vice president of corporate communications.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, <a href=\"https:\/\/twitter.com\/Grayscale?ref_src=twsrc%5Etfw\">@Grayscale<\/a> announced that we\u2019ve retained former Solicitor General under the Obama Administration, Donald B. Verrilli, Jr., as additional legal counsel.<\/p>\n<p>\u2014 Jennifer Rosenthal (@jenn_rosenthal) <a href=\"https:\/\/twitter.com\/jenn_rosenthal\/status\/1534270947573874689?ref_src=twsrc%5Etfw\">June 7, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>From 2011 to 2016 Verrilli Jr. served as the Solicitor General under the Obama administration. Before that, he held the post of Deputy Attorney General at the U.S. Department of Justice.<\/p>\n<p>The vice-president stressed Grayscale Investments&#8217; &#8220;unwavering commitment&#8221; to converting <span data-descr=\"Grayscale Bitcoin Trust\" class=\"old_tooltip\">GBTC<\/span> into an ETF based on the first cryptocurrency. According to her, the hired specialist &#8220;possesses a comprehensive, multidimensional understanding of the U.S. regulatory framework and the country&#8217;s legal system&#8221;.<\/p>\n<p>Grayscale<a href=\"https:\/\/u1f987.com\/en\/news\/dcg-chief-confirms-plans-to-convert-grayscales-bitcoin-trust-into-an-etf\">applied<\/a> to convert the Bitcoin Trust into an ETF in October 2021. In February 2022, the U.S. Securities and Exchange Commission<a href=\"https:\/\/u1f987.com\/en\/news\/sec-delays-ruling-on-grayscales-bid-to-launch-a-spot-bitcoin-etf\">delayed its decision<\/a> until July 6.<\/p>\n<p>At the end of March, Grayscale CEO Michael Sonnenshein<a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-says-it-is-prepared-to-sue-the-sec-if-gbtc-is-not-converted-into-an-etf\"> said he was prepared to sue<\/a> the regulator in the event of a denial.<\/p>\n<p>Earlier, SEC Chair Gary Gensler<a href=\"https:\/\/u1f987.com\/en\/news\/vaneck-files-for-bitcoin-strategy-etf\"> noted<\/a> that for possible approval of bitcoin-based ETFs their underlying assets must be bitcoin futures <span data-descr=\"Chicago Mercantile Exchange\" class=\"old_tooltip\">CME<\/span>.<\/p>\n<p>He also mentioned filing under the Investment Company Act of 1940. Subsequently, based on this, the regulator allowed trading of bitcoin futures ETFs from<a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-futures-based-bitcoin-etfs-from-vaneck-and-valkyrie-investments\"> VanEck, Valkyrie Investments<\/a> and<a href=\"https:\/\/u1f987.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\"> ProShares<\/a>.<\/p>\n<p>In early April, the SEC<a href=\"https:\/\/forklog.io\/sec-odobrila-fyuchersnyj-bitkoin-etf-ot-teucrium\/\"> approved<\/a> the Teucrium product. It complies with the Securities Exchange Act of 1934 as does Grayscale&#8217;s filing.<\/p>\n<p>In April, Grayscale urged the SEC to convert the Bitcoin Trust into an ETF after Teucrium&#8217;s approval.<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 all the news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald B. Verrilli Jr. joined Grayscale Investments&#8217; digital-asset team as counsel, according to Jennifer Rosenthal, the company&#8217;s vice president of corporate communications.<\/p>\n","protected":false},"author":1,"featured_media":62633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[943,1211],"class_list":["post-62632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-grayscale-investments","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=62632"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62632\/revisions"}],"predecessor-version":[{"id":62634,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62632\/revisions\/62634"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/62633"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=62632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=62632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=62632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}