BTC

Grayscale Wins Lawsuit Against SEC in Historic Moment for Crypto Industry

by BSC News

August 29, 2023

Grayscale has emerged victorious in its case against the SEC, regarding its previous application for a Bitcoin ETF, sending positive shockwaves through the industry

In perhaps the most significant cryptocurrency-related event in 2023 so far, Grayscale has emerged victorious in its lawsuit against the US Securities and Exchange Commission (SEC), over the previous rejection of its Bitcoin ETF application.

DC Circuit Court of Appeals’ panel of three judges sided with Grayscale on August 29 and, as a result, the Commission’s previous order is now “vacated”, with Grayscale’s ETF application to undergo review once again.

Grayscale first elected to sue the SEC in mid-2022 when the Commission rejected its application to convert its Bitcoin trust to an ETF.

At time of writing, Bitcoin (BTC) is trading at around $27,400, having surged on the news, according to data from CoinMarketCap.

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