US Court Clears Path for First Spot Bitcoin ETF in Grayscale Ruling
Grayscale Investments LLC moved closer to launching a spot-based Bitcoin exchange-traded fund (ETF) in the US. A three-judge appeals panel in Washington on Tuesday overturned the decision by the US Securities and Exchange Commission to block the ETF, which would be tied to the spot Bitcoin price. JUST IN: 🇺🇸 US Court paves way for first Spot #Bitcoin ETF after Grayscale wins lawsuit against SEC, Bloomberg reports. pic.twitter.com/SmmA3szHpT — Watcher.Guru (@WatcherGuru) August 29, 2023 Grayscale has been pursuing the Spot Bitcoin ETF for a year. Now, with the courts on their side, this is a major win not just for Grayscale, but for all of cryptocurrency. The SEC, however, will look to fight the decision. The Grayscale Bitcoin trust is one of the largest trusts holding Bitcoin, and its holding is also seeing a rally of over 20%. Also Read: SEC Approval of Ethereum Futures ETF Expected in October Bitcoin is now trading above ...