Bitcoin and other cryptocurrencies soared on Tuesday after crypto asset manager Grayscale Investments won a key court decision that likely clinches approval of a spot Bitcoin exchange-traded fund—a long-awaited catalyst for digital assets.
The court said the SEC acted arbitrarily by denying Grayscale’s attempts to convert its Grayscale Investment Trust—which holds Bitcoin—into an exchange-traded fund . The regulator can appeal to the Supreme Court or deny Grayscale on other grounds than it did initially, but it makes a spot Bitcoin ETF look inevitable at this point.
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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 »
Breaking: Bitcoin Price Surges as Grayscale Emerges Victorious Against SEC in ETF CaseThe court has decided to side with leading crypto asset manager Grayscale in a landmark ETF case
Source: Utoday_en - 🏆 295. / 63 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 »