WisdomTree and Invesco Galaxy Spot Bitcoin (BTC) ETF Applications Delayed by SEC

Decide Neomi Rao, writing for the unanimous court docket, mentioned the SEC’s denial of the appliance was inconsistent with the approval of a pair of bitcoin futures ETFs, and didn’t clarify why it seen most of these merchandise otherwise given the underlying bitcoin market had a “99.9% correlation” between spot and futures market costs. Grayscale’s argument that its proposed ETF was “materially comparable” to the futures ETFs received.