DC US Appeals judge: "The SEC was Arbitrary & Capricious when it denied Grayscale's Bitcoin ETF!" ⚖️

Damn. Talk about being chopped down a rung. The judge presiding over Grayscale's lawsuit against the SEC for denying them the ability to convert their Bitcoin Trust to an ETF literally eviscerated them. The judge added that the SEC has already approved Bitcoin Futures ETF and Bitcoin Trusts, so they have no legitimate reason to deny a Bitcoin Spot ETF, especially since a Spot ETF requires holding the underlying asset the ETF is based on. Not simply speculating on it, like Futures do.

This decision makes it even harder for the SEC to deny the multiple pending Bitcoin Spot ETF filings, including one from BlackRock.
Should the SEC deny any of them, lawsuits will be filed immediately and this DC Appeals Court decision will be front and center in highlighting the bias at Biden's SEC against Bitcoin Spot ETF's.

Gensler has been very open that Bitcoin is a Commodity and cannot be regulated by the SEC. However, he is under the umbrella of the Biden administration, which is banker controlled, thus hates Bitcoin due to its uncontrolled nature and ability to replace and dominate our current corrupt Fiat monetary system over the coming decades.

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