Bitcoin ETF Ruling a 'Huge Win' for Grayscale, CEO Says

The video discusses Grayscale's legal battle with the SEC over converting GBTC to a Bitcoin ETF. After a year-long litigation, the DC circuit court ruled in favor of Grayscale, vacating the SEC's denial. The SEC has 45 days to request a rehearing. Grayscale plans to work with the SEC to expedite the conversion process while adhering to federal rules. The court acknowledged that the SEC already has the tools to approve such products, citing sufficient surveillance between CME and NYSE.

What arguments did the court agree with regarding the SEC's ability to approve spot Bitcoin products?

How does the court's decision impact the future of Bitcoin ETFs in the market?