TL; DR
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Remember how the SEC was criticized in court last month for rejecting Grayscale’s application to convert its Bitcoin trust into an ETF?
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But this weekend, someone close to the case said the people at the SEC would not appeal. No attempt to take back the win. Just a silent admission of defeat.
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That’s exciting because it brings us one step closer to a spot BTC ETF, which would allow stock traders to buy Bitcoin through the stock market.
Full story
You know that trope in boxing movies where the trainer yells at his fighter, “STAY KEEP IT!”
…but the fighter always gets up… and somehow wins.
And every time you wonder, ‘Why would a trainer tell his fighter to stay down?’
Well, in the real world, exhausted fighters are at a much higher risk of getting hurt, so it’s in their best interest to stay down if the chances of them turning things around are crazy low.
Why are we telling you this?
Because a similar situation is happening in the courts right now…
Remember how the SEC was criticized in court last month for rejecting Grayscale’s application to convert its Bitcoin trust into an ETF?
(If you want all the details on them you can find them here)
What you need to know now is: it was the biggest Bitcoin news of the year!
Serious. It caused the BTC chart to do this: