US Court of Appeals sides with Grayscale in lawsuit against SEC, which had rejected the company’s application to convert the Grayscale Bitcoin Trust to an ETF.
In denying Grayscale’s proposed bitcoin fund, the SEC was “arbitrary and capricious”, the District of Columbia Circuit Court of Appeals said on Tuesday, adding that the SEC had no legitimate basis for its decision.
In July, the SEC told exchanges Nasdaq and Cboe Global Markets, which filed the
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