Uh, Breaking Grayscale wins its lawsuit against the SEC over converting its fund to a spot. Bitcoin ETF So do we wait? Do we have our first spot? Bitcoin ETF Court Ruling is a Monumental step forward for American Investors Bitcoin Ecosystem Grayscale wins lawsuit against the SEC U.S Federal Appeals Court rules U.S Securities and Exchange Commission was wrong to reject application from Greyscale for a spot Bitcoin ETF It sounds like we're getting our first spot Bitcoin ETF That is awesome. That's a huge win obviously for Grayscale for Bitcoin and the crypto. Community This cause came to be heard on the petition for review of an order of the Securities and Exchange Commission and was argued by Council on consideration.

Therefore, it is ordered and a judge that Grayscale's petition for review be granted and the commission's order be vacated in accordance with the opinion of the Court filed herein this date. Dude, we agree that denial of Grayscale's proposal was arbitrary and capricious because the commission failed to explain its different treatment of similar products. We therefore Grant Grayscale's petition to vacate the order administrative adjudication must be consistent and predictable. following the basic principal and similar cases should not be treated similarly.

New York Stock Exchange ARCA Presented substantial evidence that Grayscale is similar across the relevant regulatory factors to Bitcoin Futures Etps. The commission failed to adequately explain why it approved the listing of two Bitcoin future Etps, but not gray scales proposed Bitcoin ETP So to clarify what's going on before this all happened, we already had Bitcoin Futures Trading Ethereum Futures Trading And then all of a sudden the spot Bitcoin ETF And what a spot. Bitcoin ETF is and exchange traded fund in EDF Exchange traded fund. People funnel money into the ETF and then the ETF goes out and actually buys Bitcoin.

So it is the real thing. It's real. Bitcoin. Well, Bitcoin Futures is technically not gonna be that physically delivered thing.

It's going to be cash. It's cash settled. So that's what the SDC was. A little bit trying to argue, but then when you looked at why they were trying to argue that they were saying that spot Bitcoin ETF They were worried about security and safety.

and then we're like whoa whoa whoa. If that's your argument, that doesn't really make sense because we can be a proper custodian for this. So basically money goes into the ETF. the ETF goes out and buys actual Bitcoin.

That's why it's a spot. ETF. So we had Spot Gold Spot Silver Spot. Like basically their spot for all Commodities.

We know that Bitcoin is already legally defined as a digital commodity and the fact that they already have Bitcoin Futures and then if their big issue is Security in terms of storing it, well, we can fix that. So I mean this is not anything crazy, but this is a long time coming. The Commission failed to adequately explain why it approved the listing of two Bitcoin to future Etps, but not Grayscale's proposed Bitcoin ETP in the absence of a coherent explanation. This, unlike regulatory treatment of like products, is unlawful.

We therefore Grant Grayscale's petition to review and vacate the commission's order so ordered. That's awesome. So it looks like Grayscale is going to be the first one with their foot in the door. I Would not be surprised if you have many others very very quickly following because basically a lot of people a lot of companies were filing for Bitcoin spot ETF and just no one could crack the code that would make the SEC happy and it turns out most likely that the SEC was never going to be happy and we just needed another legal I Guess overseer to step in and tell the SEC that they should go kick Rock So once again, massive massive win obviously for Grayscale.

Bitcoin and I would argue for the crypto community at a whole and a huge and rightfully so an embarrassment for the SEC Uh so hey uh, right now in real time Bitcoin Ripping off the news low 26 thousands to above mid 27 000. so gaining almost fifteen hundred dollars that is. It happened rapidly. I Mean that took about 20 minutes, 30 minutes right there.

That's so cool. Well congratulations, especially to someone lucky watching this right now. I Know there's some lucky duck out there who bought right before it took off for just no arbitrary reason and you're probably already dumbfounded. So huge.

Huge congrats to you. Obviously if we zoom out, Bitcoin does have a ways to go to get back to like its former fighting weight. but hey, every Journey starts with a step and hopefully this leads to some nice upside movement. and I think there's a legitimate argument that it could.

Why this is so big, Why the market is moving on. This news, it wasn't just in pure celebration of the fact that the crypto Community had a win is because this now can represent a highway on-ramp for big money to get invested into crypto. So before this he kind of had to have your own setup with it was like on coinbase or binance or something along those lines. but there there was no real way for Big Money Wall Street money to get into this.

There was no real way for retirement accounts which is trillions of dollars in excess of 10 trillion dollars in the US alone to go out and get this. They just it wasn't set up. Now if there is an ETF if we truly have a spot, Bitcoin ETF that is now an opportunity where okay Regulators have to play ball. so they're setting the groundwork and then this will set up so big.

Wall Street Money can actually get officially into crypto and on top of that, you now have retirement accounts that can actually get access to this. So when you have trillions of dollars in just one of those alone and even if a small per like portion of it, a small percentage decides to get Bitcoin Well that's awesome. So obviously Bitcoin Big win. I Wouldn't be surprised if other companies are going to quickly follow to get their own spot.

Bitcoin ETF I Also, wouldn't be surprised if Ethereum is going to be the next one that tries to do similar things. So Bitcoin it's a good day to be a Bitcoin supporter. I'll definitely say that without a doubt.