SEC Faces Mandate to Review Grayscale's Bitcoin ETF After Losing Court Battle

SEC reportedly will not appeal court ruling forcing review of Grayscale's spot Bitcoin ETF application.

If denied, Grayscale can appeal decision. Approval could take until 2024.

Court to issue mandate outlining how SEC should execute ruling.

SEC and Grayscale dialogue on next steps expected to begin soon.

Around 7 spot Bitcoin ETF applications await SEC decision. ARK Invest has 90% chance of approval in 2024.