The court has decided to side with leading crypto asset manager Grayscale in a landmark ETF case
In a landmark ruling, Judge Neomi Rao of the D.C. Circuit Court of Appeals that the"denial of Grayscale’s proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products."
The price of Bitcoin, the largest cryptocurrency, managed to top $27,000 following the ruling. The flagship coin has reached an intraday high of $27,740 on the Bitstamp exchange. The shares of major crypto companies, such as Coinbase, are also on the rise following the decision. It is worth noting that Grayscale was widely expected to score a win against the SEC after a recent ruling in the
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