the staff of the Ridgewood blog
Ridgewood NJ, a US federal court ruled that the SEC acted unfairly in denying Grayscale’s request to turn its Grayscale Bitcoin Trust product into an ETF. The long-awaited decision gave a big boost to prices across the board in the crypto market and even to crypto-related public equities like Coinbase. While the ruling was favorable, it still doesn’t guarantee immediate ETF approvals. Not only does this help Grayscale’s case as it tries to launch an ETF, but it also likely increases the chances that the spot BTF applications from TradFi giants like Blackrock and Fidelity will go through as well.