Grayscale Investments LLC has won a significant legal battle and can now launch the first Bitcoin exchange-traded fund (ETF) in the US, potentially attracting more investment. Bitcoin's price rose by 6% following the announcement, with a 24-hour trading volume of over $17.5 billion. The SEC's decision to halt the ETF was overruled by a three-judge appeals panel in Washington, allowing Grayscale to create and redeem shares in tandem with fluctuating demand. The move to an ETF could unlock around $5.7 billion from Grayscale's $16.2 billion trust, marking a milestone in the mainstream financial world's ever-evolving cryptocurrency landscape.
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