Non-fungible tokens (NFTs) witnessed a 15% surge in trading volumes thanks to the U.S. Securities and Exchange Commission’s (SEC) failure to file an appeal in the Grayscale #Bitcoin Trust case. According to on-chain data aggregator the #NFT ecosystem encountered a substantial 15% uptick in the past 24 hours. Total trading volume topped $9.7 million. Notably, there has also been a 5.9% increase in the number of investors actively acquiring NFTs. #Ethereum -based NFT collections exhibited a noteworthy 26.7% increase in sales, contributing $5.2 million in trading proceeds over the same 24-hour period. Digital collectibles on the Mythos Chain and #Solana #blockchain have also registered notable spikes, accumulating trading sales of $1.3 million and $1 million, respectively. Mythos Chain NFTs recorded a 4.5% increase, while Solana-based NFTs exhibited an impressive 23.5% rise. You might also like: SEC charges ‘Stoner Cats’ NFT creators for selling unregistered securities Grayscale vs. SEC Grayscale, a digital currency asset management company, has been at loggerheads with the SEC following the latter’s rejection of its push to convert its Bitcoin Trust into a more investor-friendly spot BTC ETF. In June 2022, Grayscale initiated a legal dispute against the regulator after its initial rejection of the proposed Bitcoin ETF without providing a specific reason. In August, a Washington, D.C. appeals panel declared the SEC’s decision invalid and arbitrary, indicating that the SEC should review its actions as they were incorrect. The future of Grayscale’s spot Bitcoin ETF remains uncertain.

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