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.
