The US Court of Appeals has upheld a previous decision and instructed the Securities and Exchange Commission (SEC) to reevaluate Grayscale Investments’ application for a spot Bitcoin exchange-traded fund (ETF). The court’s ruling in August argued that Grayscale’s proposed Bitcoin ETF should be treated similarly to already approved Bitcoin futures ETFs. The SEC recently announced that it will not appeal the court’s decision. Grayscale has secured a court order affirming the need for the SEC to review its proposal.

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