The Securities and Exchange Commission (SEC) has decided not to appeal a court ruling in favor of Grayscale’s proposed spot Bitcoin exchange-traded fund (ETF). This move by the SEC could lead to a comprehensive review of Grayscale’s proposal and may also impact other financial giants like BlackRock and Fidelity, who have similar applications pending for a spot Bitcoin ETF. The appeals court supported Grayscale’s position and stated that the SEC did not explain the difference between the two setups. The court is expected to provide instructions for the implementation of its decision, likely directing the SEC to reconsider Grayscale’s application.
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