The post Grayscale Wins Lawsuit Against SEC! appeared first on Coinpedia Fintech News
In a major legal victory for Grayscale Investments, the Federal Court has ruled that the US Securities and Exchange Commission (SEC) must review its rejection of Grayscale’s attempt to convert the Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF). The court also vacated the SEC’s previous order. Following the news, the price of bitcoin soared by 4.1% in just one hour. The decision is seen as a big boost for Grayscale, which has been pushing for the conversion of GBTC into an ETF for some time. It remains to be seen how the SEC will react to the court’s ruling.
Source: https://coinpedia.org/crypto-live-news/the-federal-court-grants-grayscales-petition/