From my understanding today is simply the deadline for SEC to appeal the previous decision.

Should they, it drags on.

Should they not, I believe they would either still need to approve it, but more likely Grayscale would seek the courts decision on approval, or at least seek orders for them to do so.

Basically we just get a feel for how committed they are still to dragging this out.

IMO, fuck the etf.

Most of us morons would still sell to them and be screwed anyway.