According to CoinDesk, Bitcoin trading price rose to just below the $28,000 level. As of press time, it is now quoted at $27,805, with a 24-hour increase of 2.51%, reversing all losses in the past week. The rise appears to be a continuation of the reaction to the U.S. Securities and Exchange Commission’s (SEC) decision on Friday not to appeal Grayscale’s recent ruling.
The U.S. Securities and Exchange Commission (SEC) has apparently not appealed a court decision overturning Grayscale’s popular Bitcoin Trust to convert into a more investor-friendly exchange-traded fund (ETF), potentially paving the way for approval of the first U.S. Bitcoin ETF, according to a person familiar with the matter, helping to increase the likelihood that Grayscale’s Bitcoin Trust (GBTC) will transform into a more attractive ETF.
