​Coinbase backs Grayscale in suing the U.S. Government.

Coinbase and Grayscale (the worlds largest Bitcoin fund) are now, officially, 'Ruff Ryders.'

And if DMX taught us anything, it's that Ruff Ryders:

Stop. Drop. Shut 'em down, and open up shop.

In this case, Coinbase and Grayscale are trying to shut the SEC down in court, so they (and anyone else interested in doing so) can open up a Bitcoin ETF.

A Bitcoin ETF would allow investors to buy BTC by proxy, on the stock market (every time someone bought a share in the ETF, Grayscale would use the funds to buy Bitcoin).

Here's why this is important:

There's a big difference between buying Bitcoin on a crypto exchange, and on the stock market - in that the stock market is highly regulated.

If a Bitcoin ETF were to be approved, it would be the green light that many institutional investors (aka 'big money') have been looking for, to buy BTC.

Any ETF that is allowed to trade on the US stock market, comes with regulatory approval built in. Meaning major corporations will be able to invest in BTC, without worrying they might end up in court for doing so.

Grayscale have applied to launch a Bitcoin ETF multiple times, and have been consistently rejected.

So now they're playing hard ball, suing the SEC for “failing to apply consistent treatment to similar investment vehicles.”

The argument being: you can create an ETF for commodities like gold and platinum - so why not Bitcoin?

Here's what it could mean for BTC, long term, if they win:

And that, is how Ruff Ryders roll.