The post What Happens Next for Bitcoin ETFs After Grayscale’s Win? appeared first on Coinpedia Fintech News
Bitcoin’s price went up to a two-week high following a court ruling that the U.S. Securities and Exchange Commission (SEC) wrongly rejected Grayscale’s application for a bitcoin exchange-traded fund (ETF). This victory could have implications for other companies seeking to launch bitcoin ETFs, such as BlackRock and Fidelity.
Since now Grayscale has won the legal battle to convert its Bitcoin Trust product into a full-fledged ETF it will be a game changer move for others. This decision has already pumped cryptocurrencies like Bitcoin and Ethereum, along with Coinbase, a sole trading partner for multiple Bitcoin ETF applications, also experiencing a significant rise in value.
The Court Ruling and Its Impact
The 2nd DC Circuit Court found the SEC’s rejection of Grayscale’s ETF request to be arbitrary. This victory puts pressure on the SEC to review the Grayscale Bitcoin Tr
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