According to the last minute information reflected in the crypto money channels, Grayscale has won a victory against the SEC. The crypto-friendly asset management firm sued the SEC for not accepting its spot Bitcoin ETF application.
The relevant US court ruled that the government agency was unfair in its spot Bitcoin ETF application, which the Securities and Exchange Commission rejected. According to media reports, the court stated that the SEC practice was arbitrary.
After the news, the BTC price started to rise sharply. The leading cryptocurrency, which hovers around $26,000 in the middle of the day, is trading at $27,600 as of 17:46.
More details on the news soon…
