The First Bitcoin ETF is Here (?)
Aug, 2023

The First Bitcoin ETF is Here (?)

Α minor win became evident this week as a US court decided in favor of the legalization of a Bitcoin Spot ETF, the first of its kind if it got approved from the SEC.


The three-member Court of Appeals decided against the SEC’s decision for Grayscale Investments for launching an ETF that will be focused on Bitcoin’s spot price.


The main reasoning behind the court’s decision was that SEC is not providing enough arguments why it rejects the application and there is not enough legal coverage for its reasoning.


The SEC said that it will revise the base of its argument according to the court’s reasoning while the crypto markets are surging while listed crypto exchanges like Coinbase are transcribing profits in just a few hours.


A new round on that battle is on….


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