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This week, Grayscale triumphed in a high-stakes battle against U.S. regulators, while developments emerged regarding spot-based BTC ETF applications. Amidst these events, football star Ronaldinho found himself embroiled in a crypto controversy. Grayscale secures victory Grayscale’s legal triumph over the U.S. Securities and Exchange Commission (SEC) seized the spotlight this week. In
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In less than a day, Bitcoin (BTC) has shed nearly all the gains it made from Grayscale Investment's court victory against the United States Securities regulator.On Aug. 29 Bitcoin popped to a two-week high after a judge ruled that the Securities and Exchange Commission was “arbitrary and capricious” when it
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“The Grayscale discount to market has declined significantly since the ruling,” John Glover, chief investment officer at crypto lender Ledn, wrote in an email. “But it may be too early to remove the discount completely, as there is no guarantee that this ruling results in Grayscale being able to offer
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United States presidential candidate Vivek Ramaswamy has lauded Grayscale’s recent victory over the federal securities regulator, arguing the decision will help keep Bitcoin and blockchain innovation from going overseas. In an Aug. 30 post on X (formerly Twitter) the pro-Bitcoin Republican candidate took shot at a “shadow” U.S. government, pointing
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According to data from Kaiko, the average trade size for bitcoin on crypto exchange Kraken increased to above $2,000 on Tuesday after the ruling, from around $850 the day prior. The last time bitcoin’s average trade size was higher than $2,168 was in June, said research firm Kaiko. The bitcoin
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Coinbase's stock experienced a significant surge on Aug. 29 after reports emerged that a federal judge had ruled in favor of Grayscale in their SEC legal dispute.In the final moments of the trading session on Tuesday, Aug.29, the value of COIN stood at $85.13 per share, marking an increase of
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Bitcoin (BTC) gained nearly 8%, topping $28,000 at one point on Tuesday afternoon after a federal appeals court ruled that the SEC must review its rejection of Grayscale Investments' attempt to convert its GBTC into an ETF. As has been typical with such rallies for many months, the crypto quickly
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The ruling increases the likelihood the SEC might approve all bitcoin spot ETF applications together, the report said. Source
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Ahead of the pivotal ruling nearly 30,000 BTC, worth $822 million at the going market rate of $27,400, were moved to addresses tied to centralized exchanges, according to data tracked by analytics firm Santiment. The ruling led to a 6% surge in bitcoin prices pushing the top cryptocurrency to $28,000. Source
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Some investors, however, have been purchasing GBTC shares over the last three to six months betting on a narrowing discount in case of a favorable court decision, Doug Schwenk, CEO of crypto data provider Digital Asset Research, explained in an emailed note. Source
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