The SEC Is Down for the Count

TL;DR

• Remember last month how the SEC got flamed in court for rejecting Grayscale’s application to turn its Bitcoin trust into an ETF?

• But over the weekend, someone close to the case let slip that the folks at the SEC were not appealing. No attempt at clawing back the win. Just a silent admission of defeat.

• Which is exciting because it gets us one step closer to a spot BTC ETF, which would allow stock traders to buy Bitcoin via the share market.

Full Story

You know that trope in boxing movies where the trainer will yell at their fighter to “STAY DOWN!”

…but the fighter always gets up...and somehow wins.

And every time, you’re left wondering ‘why would a trainer tell their fighter to stay down??’

Well, in the real world, exhausted fighters are at a much higher risk of getting hurt, so it’s in their best interest to stay down when there’s a stupidly low chance of them turning things around.

Why're we telling you this?

Because right now, a similar situation is playing out in the courts…

Remember last month how the SEC got flamed in court for rejecting Grayscale’s application to turn its Bitcoin trust into an ETF?

(If you want all the details on it, you can ​get them here​)

What you need to know now is: it was the biggest Bitcoin news of the year!

Seriously. It made the BTC chart do this:

The fear between then and now has been that the SEC might appeal the court's decision...

But over the weekend, someone close to the case let slip that the folks at the SEC were (metaphorically) taking the advice of their trainer and staying down for the count.

No appeal. No attempt at clawing back the win. Just a silent admission of defeat.

Which is exciting because it gets us one step closer to a spot BTC ETF, which would allow stock traders to buy Bitcoin via the share market.

(And most likely bring on an unprecedented wave of demand for Bitcoin).