#SEC must review the request of #ETF of #bitcoin of #Grayscale , confirms court

Initially, the SEC had rejected the request, but the court considered that this action was "arbitrary and capricious."

On October 13, the US Securities and Exchange Commission (SEC) decided not to appeal the court ruling ordering it to review Grayscale's bitcoin spot ETF application. Today, 10 days later, the corresponding Court confirms that, as a consequence of this lack of appeal, the SEC must comply with the measure.

The text of the judicial statement is brief and precise. It consists of a single sentence: "In accordance with the ruling of August 29, 2023, and in accordance with Federal Rule of Appellate Procedure 41, this constitutes the formal mandate of this court"

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