The price of Bitcoin experienced a notable increase after the U.S. Court of Appeals for the DC Circuit determined Tuesday that the Securities and Exchange Commission (SEC) was mistaken in rejecting Grayscale’s request to transform its prominent BTC trust into an exchange-traded fund (ETF).
In response to the ruling, Bitcoin’s value surged by more than 7% to reach $27,852, leading to a broader upswing in the cryptocurrency market and crypto-related stocks.
However, the top crypto has since faced challenges in recovering its position, even following a unanimous 3-0 decision in favor of Grayscale vs. the SEC, that seemed to open the path for a US-based exchange-traded fund focused on the cryptocurrency.
Grayscale presently possesses 3.4% of the outstanding bitcoin, a value estimated at multiple tens of billions of dollars, as stated in the filing.
Despite making initial gains after the ruling, its momentum waned, leading to a monthly decline of approximately 10% for the leading crypto
We współpracy z: https://bitcoinist.com/bitcoin-downward-spiral-continues/
