Grayscale has asked the SEC to meet to discuss the next steps after the SEC lost a court case regarding converting Grayscale's Bitcoin Trust to a spot Bitcoin ETF. Grayscale's lawyers argue that after futures-based Bitcoin ETFs were approved, there is no valid rationale for the SEC to treat Grayscale's application differently. Grayscale says their application has been pending much longer than SEC rules allow, and their nearly 1 million investors "deserve a fair playing field as quickly as possible." The discount for Grayscale Bitcoin Trust shares has fallen significantly since the court ruling, indicating an increased possibility of an ETF approval.