SEC Must Review Grayscale’s Bitcoin ETF Bid After Previous Rejection, Appeals Court Rules

CoinDesk reported:

“Grayscale has demonstrated its proposed bitcoin ETP is materially similar, across relevant regulatory factors, to the approved bitcoin futures ETPs,” the ruling said. “First, the underlying assets – bitcoin and bitcoin futures – are closely correlated. And second, the surveillance sharing agreements with the CME are identical and should have the same likelihood of detecting fraudulent or manipulative conduct in the market for bitcoin and bitcoin futures.”

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