Bitcoin (BTC) Price Soars As Grayscale Wins Lawsuit Against SEC

In a major victory for the cryptocurrency industry, Grayscale Investments has won its lawsuit against the Securities and Exchange Commission (SEC). The SEC had rejected Grayscale’s application to convert the Grayscale Bitcoin Trust (GBTC) into a spot bitcoin exchange-traded fund (ETF).

The U.S. Court of Appeals for the D.C. Circuit ruled in favor of Grayscale on Tuesday, August 29, 2023. The court found that the SEC’s decision to reject Grayscale’s application was arbitrary and capricious.

The court’s decision is a major victory for the cryptocurrency industry. It paves the way for the creation of a spot bitcoin ETF, which would make it easier for investors to buy and sell bitcoin.

New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW

Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!


Show more +

The price of bitcoin reacted positively to the court’s decision. Bitcoin’s price surged by more than 5.3% in the hours following the ruling. BTC surged from a 24-hour low of $25,912 to a high of $27,626 at press time.

The other cryptocurrencies also reacted positively to the news. The price of Ethereum, the second-largest cryptocurrency, rose by more than 5%. The global crypto market cap also spiked by 3.445 and stands at $1.09 trillion.

The price reaction to the news is also a positive sign. It shows that investors are bullish on cryptocurrencies and that they believe that the industry has a bright future.

Check $RECQ Meme Coin

Sponsored: Invest Responsibly, Do Your Own Research.
Serves as the base currency for all transactions within the Rebel Satoshi platform
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

We will be happy to hear your thoughts

Leave a reply