Rumor: SEC does not want to block ruling in favor of Bitcoin ETF

The SEC does not want to block a court ruling in favor of Grayscale's Bitcoin ETF. This reports Reuters, among others.

The rumor mill is bubbling: The SEC reportedly will not block Grayscale's Bitcoin ETF. This is being reported by Reuters news agency. It referred to a "source familiar with the matter."

Bloomberg analyst James Seyfoort writes about it on Twitter, "This is a done deal, if true."

But note that this news does not mean the SEC has to approve Grayscale's ETF.

There has been a race for months for the first Bitcoin ETF. In addition to Grayscale, asset manager BlackRock submitted an application. So far, they have all been rejected. The approval of a Bitcoin ETF comes with the hope that the price of Bitcoin will rise because it opens the door for institutional investors.

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