After Grayscale Investment’s court win against the SEC, Bitcoin’s price jumped, but now those gains are erased following the regulator's delay on deciding the fate of seven spot Bitcoin ETF applications.
In less than a day, Bitcoin has shed nearly all the gains it made from Grayscale Investment's court victory against the United States Securities regulator.after a judge ruled that the Securities and Exchange Commission was “arbitrary and capricious” when it rejected Grayscale’s spot Bitcoin ETF application.
spot Bitcoin ETF applications has sent Bitcoin’s price downwards, falling nearly 5% in the last 24 hours.shows Bitcoin’s price is currently around $26,000, falling steeply from around the $27,300 level it had been sustaining since the Grayscale win.BlackRock, WisdomTree, VanEck, Bitwise, Valkyrie and Fidelity along with the joint fund by Invesco and Galaxy were all delayed on Aug. 31 by the SEC.including Bloomberg ETF analysts Eric Balchunas and James Seyffart.
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