As the court rules with Grayscale over the SEC in the crypto ETF lawsuit, bitcoin gains more than 7%.
After the Securities and Exchange Commission was found to have erred in denying cryptocurrency investment firm Grayscale permission to transform its well-known bitcoin trust into an ETF, the price of bitcoin increased on Tuesday.
Following the decision, Bitcoin increased 7.15% to $27,851.82, according to Coin Metrics. The action increased the value of cryptocurrencies in general and of cryptocurrency stocks.
1-day Bitcoin
Investors and other industry participants have been keenly following Grayscale's action against the SEC as a potential catalyst to jolt a market plagued by low volatility and liquidity. The volatility of bitcoin trading reached its lowest point earlier this month.
