Crypto relief as Bitcoin ETF back on the agenda
A federal court has ruled that the US securities regulator was wrong to reject an application from Grayscale Investments to create a spot bitcoin ETF.
Judges said the SEC failed to fully explain its reasoning when denying Grayscale's product and should review its decision. Bitcoin climbed more than 6% following the news and proxies like Coinbase were also up heavily. Grayscale’s CEO called the court decision a "historic milestone for American investors". As for the SEC it said it was reviewing the court's decision to determine next steps. It has 45 days to launch an appeal against the ruling.
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