Grayscale Wins the Lawsuit Against the SEC!

Grayscale Wins the Lawsuit! After the SEC’s rejection of Grayscale’s Bitcoin ETF application, a decision has been reached in their lawsuit! Here are the details!

Grayscale, which had submitted a Bitcoin Spot ETF application in the past few months, filed a lawsuit after the SEC rejected their ETF application. The decision from the court had been eagerly awaited for weeks. In breaking news, it has been reported that the court has ruled in favor of Grayscale. Following the decision, the SEC has revoked its rejection of the spot ETF application.

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Here is the opinion issued by the presiding judge in the case:

“Grayscale has presented undeniable evidence, showing a 99.9% correlation between the Bitcoin spot market and the CME futures price. The SEC has failed to adequately explain why it approved two Bitcoin futures ETPs while denying Grayscale‘s proposed Bitcoin ETP. In the absence of a coherent explanation, the unequal regulatory treatment of similar products is deemed unlawful. Consequently, we have accepted Grayscale‘s request for a review and have overturned the Commission’s decision.” As a conclusion, Grayscale Wins the Lawsuit!

Grayscale remarked, “The court’s decision marks a significant milestone for both the Bitcoin ecosystem and American investors.”

After the ruling, Bitcoin underwent a sudden surge, reaching levels around $27,700.

Further details are currently being updated…

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