Bitcoin, Crypto Stocks Jump After US Court Paves Way for ETF

Bitcoin jumped and shares of crypto-related companies surged after after a US court overturned a decision by the Securities and Exchange Commission to block an ETF that invests directly in the cryptocurrency.

(Bloomberg) — Bitcoin jumped and shares of crypto-related companies surged after after a US court overturned a decision by the Securities and Exchange Commission to block an ETF that invests directly in the cryptocurrency.

Grayscale Investments LLC got a green light from a federal court to launch the first Bitcoin exchange-traded fund in the US, a watershed moment in the cryptocurrency industry’s quest to tap billions of dollars from everyday investors.

Shares of the Grayscale Bitcoin Trust jumped around 19%. Coinbase, the largest US crypto exchange, increased 14%.

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