Grayscale marks victory against SEC in spot ETF case, bitcoin firms
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Bitcoin (BTC) price prediction for September in light of the Grayscale court win
August 30, 2023 7:36 AM EDTGrayscale has emerged victorious in a lawsuit against the U.S. Securities and Exchange Commission (SEC) regarding the review of its Bitcoin ETF.
Bitcoin (BTC) rose 6.2% yesterday to close above the 200-DMA for the first time since January.
Landmark win for crypto
The appeals court ruled that the SEC's rejection of Grayscale's Bitcoin ETF application was "arbitrary and capricious."
The SEC had initially declined Grayscale's GBTC (Grayscale Bitcoin Trust) application, citing concerns that the products were insufficient in preventing fraudulent and manipulative practices.
In response, Grayscale pursued legal action, and the... More
