Bitcoin surges after Grayscale wins appeal against SEC💹

The price of Bitcoin rose significantly Tuesday following word that the United States Court of Appeals for the DC Circuit sided with Grayscale over the U.S. Securities and Exchange Commission (SEC) in the crypto firm's quest to launch a Bitcoin spot exchange-traded fund (ETF).

Bitcoin is up more than 5% over the last hour, rising from just over $26,000 to a current price of $27,425, per data from CoinGecko. Other leading cryptocurrencies have seen similar rises over the past hour.