By Staff Reporters
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Bitcoin gets a boost from landmark ETF ruling
An appeals court said the SEC was wrong to reject an application from crypto investment firm Grayscale to create a spot bitcoin exchange-traded fund (ETF), sending the price of bitcoin up about 6.5%.
The slumbering crypto industry has been eagerly anticipating a spot bitcoin ETF (as opposed to existing crypto ETFs based on futures) because it could attract a torrent of cash and interest from individual investors. The SEC said it was reviewing the decision.
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Filed under: "Ask-an-Advisor", Breaking News, iMBA, Inc., Information Technology, Investing | Tagged: Bitcoin, ETF, exchange traded funds, Grayscale, SEC |
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