Grayscale filed a request with the US SEC to withdraw the Filecoin trust product application

Grayscale filed a petition with the U.S. Securities and Exchange Commission (SEC) to withdraw its application to launch a Filecoin (FIL) trust product. In its withdrawal request, Grayscale noted that it still does not believe that FIL is a security for the reasons stated in its June 6, 2023 letter. According to previous news from Foresight News, Grayscale initially submitted the registration statement of the trust on April 14. On May 16, the US SEC asked Grayscale to withdraw the trust’s registration application, saying that the trust’s underlying asset Filecoin (FIL) complies with federal securities regulations. law's definition of securities. On June 6, Grayscale responded that FIL is not a security, and after the SEC named FIL as a security in certain documents in the Federal District Court, the SEC staff reiterated its request that Grayscale seek to withdraw the trust’s registration application.