The crackdown on crypto by the Securities and Exchange Commission suffered a major defeat on Tuesday.
A federal court ruled that the SEC arbitrarily prevented Grayscale Investments from converting its Grayscale Bitcoin Trust into an exchange-traded fund. This makes it much more likely that a Bitcoin ETF–versions of which have also been proposed by big names such as BlackRock and Invesco–will soon become a reality. The main effect will be to expand the market for potential investors by making it easier to buy in and get out…
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