🧵 1. Federal judge overturns SEC's denial of Grayscale's Bitcoin ETF, opening the possibility of spot Bitcoin ETFs in the US. #crypto
🧵 1. Federal judge overturns SEC's denial of Grayscale's Bitcoin ETF, opening the possibility of spot Bitcoin ETFs in the US. #crypto
🧵 2. Court rules SEC's justification for denial was insufficient. Matter returns to the commission for review.
🧵 3. SEC has denied all spot crypto ETF offerings to date but is reviewing applications from various firms.
🧵 4. SEC has not commented on the court ruling, but experts see it as a potential pathway for eventual approval.
🧵 5. BTC price rally seen as a "vote of confidence" for spot Bitcoin ETFs, putting pressure on the SEC to reconsider its rejections.
🧵 Read more at: https://cointelegraph.com/news/grayscale-wins-court-battle-what-does-this-mean-for-spot-bitcoin-etf