In a landmark ruling, Judge Neomi Rao of the D.C. Circuit Court of Appeals that the"denial of Grayscale’s proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products."
The price of Bitcoin, the largest cryptocurrency, managed to top $27,000 following the ruling. The flagship coin has reached an intraday high of $27,740 on the Bitstamp exchange. The shares of major crypto companies, such as Coinbase, are also on the rise following the decision. It is worth noting that Grayscale was widely expected to score a win against the SEC after a recent ruling in the
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First bitcoin ETF could be coming soon as court rules in favor of Grayscale over SECFirst bitcoin ETF could be coming soon as court rules in favor of Grayscale over SEC.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »
Explainer: What's at stake in Grayscale's spot bitcoin ETF case against the SEC?The U.S. District of Columbia Court of Appeals will soon rule on whether the Securities and Exchange Commission (SEC) wrongly rejected an application from crypto asset manager Grayscale Investments to list an exchange-traded fund that tracks the price of bitcoin.
Source: Reuters - 🏆 2. / 97 Read more »
SEC Must Review Grayscale's ETF Bid After Previous Rejection, Appeals Court RulesA federal appeals court ordered the SEC to 'vacate' its rejection of the trust issuer's bid to convert the Grayscale Bitcoin Trust into an exchange-traded fund.
Source: CoinDesk - 🏆 291. / 63 Read more »
Shareholder Campaign Fights To Reclaim Customer Bitcoin In Grayscale LawsuitA group of shareholders of the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE) have banded together to bring a lawsuit against Grayscale. Their goal: bringing legal action against Grayscale in an attempt to force them to allow redemptions for customer cryptocurrency held within the trusts it operates and to repay “exorbitant” management fees.
Source: TheBlock__ - 🏆 464. / 53 Read more »
BTC Explodes $1.5K as US Court Rules in Favor of Grayscale in Bitcoin ETF Case Against SECThe price of the primary cryptocurrency reacted with an immediate surge.
Source: Crypto_Potato - 🏆 568. / 51 Read more »