The latest price moves in crypto markets in context for August 30, 2023.
its rejection of Grayscale Investments' attempt to convert its Grayscale Bitcoin Trust into an ETF, a federal appeals court ruled on Tuesday.
The legal victory potentially opens the door for a spot bitcoin ETF in the U.S. Advocates have long argued that allowing this type of product would enable a greater swath of the general public to invest in bitcoin without having to go through the trouble of buying it directly or deal with potential issues like their custody providers collapsing. The SEC has disapproved every such ETF application it's reviewed to date, though a new swath of applicants are now hoping for success.
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