{"id":144269,"date":"2023-09-01T16:24:34","date_gmt":"2023-09-01T10:54:34","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=144269"},"modified":"2023-09-01T16:24:34","modified_gmt":"2023-09-01T10:54:34","slug":"grayscale-secures-a-big-win-against-sec-in-bitcoin-etf-case-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/grayscale-secures-a-big-win-against-sec-in-bitcoin-etf-case-crypto-news\/","title":{"rendered":"Grayscale secures a big win against SEC in Bitcoin ETF case &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\"><\/div>\n<ul>\n<li>U.S. court rules in favour of Grayscale in its lawsuit against SEC.<\/li>\n<li>Today\u2019s ruling paves the way for the first U.S. Bitcoin ETF.<\/li>\n<li>Bitcoin and Ethereum jumped over 5.0% following the news.<\/li>\n<\/ul>\n<p>The U.S. Court of Appeals for the DC Circuit just ruled in favour of Grayscale in its long-running lawsuit against the Securities &amp; Exchange Commission.<\/p>\n<h2>First U.S. Bitcoin ETF is now expected soon<\/h2>\n<p>SEC had blocked the asset manager\u2019s effort to convert its flagship <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/is-the-grayscale-bitcoin-trust-gbtc-stock-a-good-buy-now\/\">Grayscale Bitcoin Trust<\/a> to an exchange-traded fund last year.<\/p>\n<p>But the ruling this morning paves the way for a Bitcoin ETF not just for Grayscale but also for others that have applied for one, including <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/should-exchanges-fear-a-blackrock-etf\/\">BlackRock<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/business\/2023\/06\/29\/asset-manager-fidelity-files-for-spot-bitcoin-exchange-traded-fund\/\">Fidelity<\/a>. A Grayscale spokeswoman said today:<\/p>\n<blockquote>\n<p>[Ruling] is a monumental step forward for investors, Bitcoin ecosystem, and those who have been advocating for Bitcoin exposure through added protections of ETF wrapper.<\/p>\n<\/blockquote>\n<p>Bitcoin as well as Ethereum jumped more than 5.0% following the announcement on Tuesday.<\/p>\n<h2>Why does a Bitcoin ETF attract all the hype?<\/h2>\n<p>Note that a Spot Bitcoin ETF is a big deal as several experts are convinced that it would help boost institutional interest in the cryptocurrency and potentially unlock its next leg up.<\/p>\n<p>Shares of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/exchanges\/coinbase\/\">Coinbase Global<\/a> \u2013 the listed custodian partner in a bunch of applications for such an exchange-traded fund are also up nearly 15% at writing. According to Dave Weisberger \u2013 the Chie Executive of CoinRoutes:<\/p>\n<blockquote>\n<p>It virtually guarantees they will approve BlackRock and Fidelity. Grayscale may need to refile, but they will almost certainty be approved as well.<\/p>\n<\/blockquote>\n<p>The Grayscale Bitcoin Trust currently manages assets worth about $16 billion. The aforementioned lawsuit against the U.S. Securities &amp; Exchange Commission <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/06\/30\/grayscale-sues-sec-after-rejected-bid-to-turn-bitcoin-fund-into-etf.html\">started<\/a> in June of 2022.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\" \/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\" \/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\" \/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. court rules in favour of Grayscale in its lawsuit against SEC. Today\u2019s ruling paves the way for the first U.S. Bitcoin ETF. Bitcoin and Ethereum jumped over 5.0% following the news. The U.S. Court of Appeals for the DC Circuit just ruled in favour of Grayscale in its long-running lawsuit against the Securities &amp; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":144270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-144269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/144269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=144269"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/144269\/revisions"}],"predecessor-version":[{"id":146025,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/144269\/revisions\/146025"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/144270"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=144269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=144269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=144269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}