Lawyers representing crypto asset manager Grayscale Investments urged the Securities and Exchange Commission (SEC) to “expeditiously” approve a spot Bitcoin exchange-traded fund (ETF) in a letter sent to the federal agency Tuesday, continuing its victory march following Grayscale’s recent court win against the regulator.

The letter from law firms Davis Polk and Munger Tolles & Olson comes after a three-judge panel of the U.S. Court of Appeals for the D.C. Circuit ruled last week that the SEC was wrong to reject Grayscale’s proposed bitcoin ETF without adequately explaining its reasoning. The ruling requires the SEC to review Grayscale’s application again, although the agency still has time to appeal.

“We believe the commission should conclude that there are no grounds for treating the trust differently from ETPs [exchange-traded produ

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Author: Decrypt AI, Edited by Ryan Ozawa

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