By Hannah Lang (Reuters) - The U.S. Securities and Exchange Commission should have approved an application from Grayscale Investments to create a spot ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Hannah Lang
A panel of judges in the District of Columbia Court of Appeals in Washington said the securities regulator's denial of Grayscale's proposal was arbitrary and capricious because the SEC failed to explain its different treatment between bitcoin futures ETFs and spot bitcoin ETFs. The ruling could be a boon for bitcoin, as a spot bitcoin ETF would provide investors the opportunity to gain exposure to the digital asset without having to purchase bitcoin via a retail exchange or custody the asset in a separate crypto wallet.
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