Investment sentiment soars after Grayscale won over the SEC, but what lies ahead?
A District of Columbia Court affirmed the victory of crypto fund manager Grayscale over the U.S. Securities and Exchanges Commission (SEC).
According to the report, the court reviewed the SEC’s list of reasons to reject Grayscale’s previous proposal.
On the other hand, Grayscal’s concrete evidence showed a link between Bitcoin prices and futures prices on the Chicago Mercantile Exchange, which was approved by the SEC.
A Big Win For Bitcoin
As a result, the court couldn’t find any reasonable argument for the rejection and thus requested the SEC to review Grayscale’s Bitcoin ETF proposal and reverse the securities agency’s rejection.
The legal dispute started on June 30, 2022, after the SEC rejected Grayscale’s application to convert Grayscale Bitcoin Trust to a Bitcoin ETF Spot fund. The main reason was reportedly the SEC’s concerns about the…
