Grayscale court ruling sends Bitcoin ETF approval back to SEC

<p>Bitcoin is up 4.7% today and there is all kinds of speculation about a bitcoin ETF.</p><p>It sounds like a done deal, though the courts sending it back to the SEC slows it down a tad (did anyone really think the courts would order them to covert it to an ETF immediately?).</p><p>"I've been thinking we should approve one for the past five years," said the SEC's Hester Peirce <a href="https://x.com/NewsInSmol/status/1716525813552537758?s=20" target="_blank" rel="nofollow">said </a>on CNBC today. "The logic for why we haven't approved [a Bitcoin ETF] was always a mystery for me."</p><p>It's a mystery to me how anyone doesn't think this is priced in already. This is setting up the mother of all 'sell the fact' trades, especially in the Grayscale ETF, where money has been locked up below NAV for years.</p>

This article was written by Adam Button at www.forexlive.com.