SEC Won't Appeal Court Ruling on Grayscale Bitcoin ETF Rejection, Clearing Path for Application Review
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The SEC will not appeal a court ruling that said it was wrong to reject Grayscale's proposed bitcoin ETF.
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The decision paves the way for the SEC to review Grayscale's application again.
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The SEC has rejected all spot bitcoin ETF applications so far over concerns about market manipulation.
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Grayscale sued the SEC after it rejected their application, arguing similar protections were approved for bitcoin futures ETFs.
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The appeals court ruled the SEC arbitrarily denied Grayscale's application without explaining differences between spot and futures ETFs.
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