Grayscale prevailed in the U.S. Securities and Exchange Commission (SEC) lawsuit. The U.S. federal appeals court revoked the SEC’s order rejecting Grayscale’s spot Bitcoin ETF application and required the SEC to review Grayscale’s application. Grayscale first applied to convert its GBTC Trust into a spot Bitcoin ETF in October 2021, but it was rejected by the SEC. Last June, Grayscale filed a lawsuit against the SEC seeking review of its order.

After winning the case, Grayscale CEO Sonnenshein said that his legal team is actively reviewing the court’s opinion. This victory has positive significance for the cryptocurrency market and shows the market’s optimism. Follow the TokenInsight mailing list to get the latest cryptocurrency market updates. At the same time, you can also follow us on Twitter and subscribe to Telegram for more information. If you have any news reports or announcements, please send an email to news@tokeninsight.com.