Grayscale wins lawsuit against SEC as court paves way for one-of-a-kind bitcoin ETF

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The price of bitcoin, the world’s largest cryptocurrency, BTC was recently up 4.71% at $27,333 following the decision. The ruling could be a boon for bitcoin, as a spot bitcoin ETF would provide investors the opportunity to gain exposure to the digital asset without having to purchase bitcoin via a retail exchange.“The Grayscale team and our legal advisors are actively reviewing the details outlined in the Court’s opinion and will be pursuing next steps with the SEC,” the spokeswoman said.

The court said in its ruling that the SEC failed to explain why it disagreed with Grayscale’s assertion that the bitcoin spot and futures markets are 99.9% correlated.

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