Bitcoin rallies more than 7% as court sides with Grayscale over the SEC in crypto ETF case
Publishing timestamp: 2023-08-29 16:47:22
Summary
The price of bitcoin surged after a U.S. court ruled that the SEC was wrong to deny Grayscale permission to convert its bitcoin trust into an ETF. The ruling may increase the chances of other bitcoin ETF applications being approved, and it is seen as a positive development for the crypto market. The decision also comes as a relief to crypto market participants frustrated by the SEC's regulatory approach. Grayscale initiated the lawsuit after its application to turn its bitcoin trust into an ETF was rejected by the SEC.
Sentiment: POSITIVE
Tickers: BLK, GBTC, COIN, BTC.CM=, IVZ, FIS,
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