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the price of bitcoin jumped as it looks like btc moved closer to being allowed to trade on the U.S. stock market as an ETF
from the article:
"The value of crypto assets surged Tuesday after a US court cleared a path for the nation’s first bitcoin exchange-traded fund.
The ruling is a breakthrough moment for crypto investors and a setback for the Securities and Exchange Commission, which has been trying to rein in the digital asset industry.
The three-judge panel for the DC Court of Appeals overruled an SEC decision denying Grayscale Invesments permission to launch a bitcoin-focused ETF. The panel said the regulator had failed to adequately explain why it rejected the firm’s application.
The ruling opens the door to an investment product that investors have been demanding for years.
"This is a historic milestone for American investors, the Bitcoin ecosystem, and all those who have been advocating for Bitcoin exposure through the added protections of the ETF wrapper,” Grayscale CEO Michael Sonnenshein said in a statement. “It’s incredibly exciting that we are one step closer to making a US spot Bitcoin ETF a reality.”
https://www.cnn.com/2023/08/29/inves...set%20industry.
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