The United States Securities and Exchange Commission does not plan to appeal the decision in the Grayscale case, boosting the chances of the Grayscale Bitcoin Trust turning into an ETF.
The price of Bitcoin registered an immediate increase after the news broke.
SEC Not Planning To Appeal
The United States Securities and Exchange Commission has decided against appealing a recent court ruling that stated the commission was wrong in rejecting an application from Grayscale Investments to create a stop bitcoin exchange-traded fund (ETF). The court, in its ruling, was extremely critical of the SEC for not letting Grayscale convert its bitcoin trust into an investor-friendly exchange-traded fund. The case between the SEC and Grayscale has been closely watched by the crypto industry, which has been trying to advance ETFs for several years.
The Securities and Exchange Commission had until Friday midnight to decide on whether it wanted to challenge the court’s decision. However, the SE
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