Bitcoin ETF news sends BTC price to near $28,000, with Grayscale to review its stance versus the SEC.
captured an instant BTC price reaction to the event, with BTC/USD gaining $1,700 in around 30 minutes.which had endured after snap losses in mid-August.
A ruling by the United States Court of Appeals for the District of Columbia Circuit stated that the U.S. Securities and Exchange Commission wasto launch an exchange-traded fund using the Bitcoin spot price as its basis. “The denial of Grayscale's proposal was arbitrary and capricious because the SEC failed to explain its different treatment of similar products,” an unverified copy circulating onlineGrayscale thus joins the waiting list of firms seeking to launch what would become the first U.S. spot Bitcoin ETF, with the SEC yet to approve any application.Data from the Binance BTC/USD order book
to X by monitoring resource Material Indicators covered the uptick, with all order classes boosting buying in what was a market lacking liquidity.
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