Grayscale Investments won a landmark case against the U.S. Securities and Exchange Commission (SEC), pushing the door open for a Bitcoin Spot ETF.
The court ruled that the SEC’s denial of Grayscale’s application to convert its Bitcoin Trust (GBTC) into a spot ETF was arbitrary and inconsistent with the approval of Bitcoin Futures ETFs.
This victory represents a major step for the crypto industry, as a Bitcoin Spot ETF would allow institutional investors to gain exposure to Bitcoin without needing to directly own and store the digital asset.
The ruling has intensified discussions around the possibility of the SEC approving other spot Bitcoin ETFs in the near future, with several high-profile firms such as BlackRock and Fidelity also awaiting decisions on their applications.
