SEC Commissioner: If not for Grayscale’s appeal last year, spot Bitcoin ETFs would likely face adverse outcomes today

SEC Commissioner Hester Peirce stated that if it weren't for Grayscale's appeal in October last year, the spot Bitcoin ETF would likely face unfavorable results today. Golden Finance notes that the US local appeals court has rejected the SEC's decision to reject Grayscale Investment's application for a spot Bitcoin ETF in October 2023. The court has ordered the SEC to conduct a second review of Grayscale's application to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF.