NEW YORK/LONDON - Bitcoin rose to two-week highs on Tuesday after a U.S. court ruled that the Securities and Exchange Commission should not have rejected digital asset manager Grayscale's application for a spot bitcoin exchange traded fund.
He also expects pent up U.S. demand to positively impact bitcoin prices and help global acknowledgement of crypto as a new asset class.Both parties have 45 days to appeal the ruling, in which case it would either go to the U.S. Supreme Court or an en banc panel review. It is unclear if the SEC will appeal.
Ether, the second largest cryptocurrency in terms of market capitalization, was also up, rising about 5% to $1,730.50.. Earlier, it hit a two-week peak as well of $1,735.60.
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