Bitcoin jumps 6% on Grayscale Bitcoin ETF ruling - Breaking The News

Bitcoin jumps 6% on Grayscale Bitcoin ETF ruling

29 August

1 min read

EPA-EFE/SASCHA STEINBACH

The world's major cryptocurrencies surged on Tuesday after a US court ordered the Securities and Exchange Commission (SEC) to review its rejection of Grayscale Investments' proposal to convert its Bitcoin fund, Grayscale Bitcoin Trust (GBTC), into an exchange-traded fund (ETF).

The news suggests that the US could have its first spot in Bitcoin ETF. On the other hand, supporters have argued that enabling this type of product would allow a broader segment of the general public to invest in Bitcoin.

Bitcoin surged 6.16% at 10:45 am ET, selling for $27,743, while Ether rose 4.80% to go for $1,731 simultaneously.

bitcoin cryptocurrencies

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