The U.S. Securities and Exchange Commission (SEC) is taking a second look at its previous decisions concerning Bitcoin exchange-traded funds (ETFs)
The specifics were not disclosed, but the tone suggested continued caution in assessing the market and infrastructure surrounding Bitcoin.Last week, a directive from a federal appeals court necessitated that the SEC revisit its initial refusal to convert Grayscale's Bitcoin Trust intoThe court ruling pointed out that Grayscale's proposed product did not have material differences from Bitcoin futures exchange-traded products already present in the U.S. market.
However, it should be noted that the court order only requires a review of the application, not an automatic approval. The decision to reevaluate the Grayscale application could have broad implications for the cryptocurrency sector. On the positive side, an approval could open the floodgates for traditional investment in
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