US court rules SEC improperly rejected bitcoin spot ETF

A DC court has ruled that the US Securities and Exchange Commission improperly rejected an attempt by crypto asset manager Grayscale to convert their bitcoin trust into an ETF, potentially opening the door for the launch of a variety of Bitcoin spot ETFs. The SEC has allowed bitcoin futures ETFs since October 2021, but argued that spot ETFs were vulnerable to exploitation by markets, routinely rejecting their applications. Deep Dive: Tokenisation represents 'paradigm shift' for asset management In 2021, SEC chair Gary Gensler testified to the Senate Banking Committee that a lac...