A federal judge ruled Tuesday that the Securities and Exchange Commission must reconsider crypto asset manager Grayscale Investments’ application to launch the first bitcoin exchange-traded fund, dealing a loss to the regulator. Coinbase Global, the largest publicly traded crypto exchange, rose 14%, and bitcoin futures rose 6%.
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Grayscale’s Court Win Over SEC Lifts Hopes for Bitcoin ETF Approval
"A federal appeals court ruled Tuesday that the Securities and Exchange Commission must reconsider the crypto asset manager Grayscale Investments’ application to launch the first bitcoin exchange-traded fund, the latest setback for SEC Chair Gary Gensler’s efforts to regulate the upstart industry."
