News Explorer — SEC Reportedly Won't Appeal Grayscale Bitcoin ETF Ruling

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Oct 13, 9:49 pm

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SEC Reportedly Won't Appeal Grayscale Bitcoin ETF Ruling

The Securities and Exchange Commission (SEC) will not file a last-minute appeal against a court ruling that favors Grayscale's Bitcoin ETF launch, according to media reports. The court had deemed the SEC's rejection of Grayscale's application as "arbitrary and capricious." However, this does not guarantee automatic approval for Grayscale, as the court may ask the SEC to reconsider the application. Bitcoin's price saw a 1.3% increase upon news of the SEC's decision.

The Securities and Exchange Commission (SEC) will not file a last-minute appeal against a court ruling that favors Grayscale's Bitcoin ETF launch, according to media reports. The court had deemed the SEC's rejection of Grayscale's application as "arbitrary and capricious." However, this does not guarantee automatic approval for Grayscale, as the court may ask the SEC to reconsider the application. Bitcoin's price saw a 1.3% increase upon news of the SEC's decision.

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