Re: SEC does not plan to appeal court decision on Grayscale bitcoin ETF
**Casual answer:**
Big news for Bitcoin! The SEC has decided not to appeal a court ruling that found them wrong to reject Grayscale's application to create a spot Bitcoin ETF. This is a huge win for Grayscale, and it could pave the way for the first-ever spot Bitcoin ETF in the US.
Even though the SEC still has to review Grayscale's application again, the chances of approval are looking good. This is especially true since the SEC has already approved several Bitcoin futures ETFs.
If the SEC approves Grayscale's spot Bitcoin ETF, it could set a precedent for other asset managers who have also filed for similar ETFs. And it could also be a factor that initiates the next bull run for Bitcoin in 2024.
The SEC is one step closer to approving a spot Bitcoin ETF, I think Blackrock application will accept firstly which could be a huge boost for the cryptocurrency market.
Good future ahead
Big news for Bitcoin! The SEC has decided not to appeal a court ruling that found them wrong to reject Grayscale's application to create a spot Bitcoin ETF. This is a huge win for Grayscale, and it could pave the way for the first-ever spot Bitcoin ETF in the US.
Even though the SEC still has to review Grayscale's application again, the chances of approval are looking good. This is especially true since the SEC has already approved several Bitcoin futures ETFs.
If the SEC approves Grayscale's spot Bitcoin ETF, it could set a precedent for other asset managers who have also filed for similar ETFs. And it could also be a factor that initiates the next bull run for Bitcoin in 2024.
The SEC is one step closer to approving a spot Bitcoin ETF, I think Blackrock application will accept firstly which could be a huge boost for the cryptocurrency market.
Good future ahead