US Court issues mandate for Grayscale ruling, paving way for SEC to review spot Bitcoin ETF

The court decision was expected by many after the SEC did not appeal an Aug. 29 ruling requiring Grayscale’s Bitcoin ETF application to be reviewed.

The United States Court of Appeal has issued a mandate following a decision requiring Grayscale Investments application for a spot Bitcoin exchange-traded fund to be reviewed by the Securities and Exchange Commission (SEC). 

In an Oct. 23 filing in the U.S. Court of Appeals for the District of Columbia Circuit, the “formal mandate” of the court took effect, paving the way for the SEC to review its decision on Grayscale’s spot Bitcoin (BTC) exchange-traded fund, or ETF. The mandate followed the court’s initial ruling on Aug. 29 and the SEC failing to present an appeal by Oct. 13.

This is a developing story, and further information will be added as it becomes available.