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Jake Chervinsky
@jchervinsky
1/ Grayscale's victory over the SEC is *massive.* It's very rare for a federal circuit court to find that an agency has violated the APA by acting arbitrarily and capriciously. The DC Circuit just d...
Summary
Grayscale won a major court victory against the SEC over its spot bitcoin ETF proposal, with the DC Circuit ruling the SEC acted arbitrarily in rejecting it. While the court didn't approve the ETF yet, it forces the SEC to reconsider, and political and legal pressure suggests a spot bitcoin ETF approval is likely coming soon.
Aug 29, 2023
8 tweets
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