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Grayscale won against the SEC as the US court supported the Bitcoin fund’s argument.
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Grayscale’s win put Bitcoin in a strong position as it is trading above $28,000.
Grayscale marked a victory against the Securities and Exchange Commission (SEC) as the US court supported the Bitcoin fund’s argument. The court made comments on the enforced actions of the regulatory agency. The Bitcoin trust was anticipating a spot Bitcoin ETF which now seems possible following the court’s judgment. The broader crypto industry is optimistic following the ruling and it is reflected in the prices of major cryptocurrencies.
During the court proceeding on August 29th, Tuesday, the United States Court of Appeals for the D.C. Circuit called out the SEC’s failure to provide adequate reasons behind rejecting the ETF application from Grayscale. Regardless, the regulator has approved two Bitcoin futures ETFs.
Citing the treatment of cryptocurrency offerings and ser
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