Bitcoin, the best-known and most valuable cryptocurrency on the market, has accumulated a revaluation of 5.6% since yesterday, reaching 27,450 dollars, after the US Justice has rejected the refusal of the stock market supervisor of that country ( SEC, for its acronym in English) to convert a fund of the digital asset manager Grayscale into an exchange-traded fund (ETF), according to Europa Press.
In this sense, after learning of the ruling, in addition to the publication of weaker-than-expected macroeconomic data that would reinforce the hypothesis of a new pause in interest rates at the September meeting of the Federal Reserve (Fed), the cryptocurrency , which trades 24/7, shot up and traded above $28,000 last night, although in the early hours of this Tuesday the rise softened.
In this context, bitcoin has returned to levels of two weeks ago and accumulates a revaluation so far this year of close to 65%, although it is still far from its all-time highs of November 2021, when it traded at the edge of 70,000. Dollars.
“The rejection of Grayscale’s proposal was arbitrary and capricious, because the Commission did not explain the different treatment it gave to similar products. Therefore, we accept Grayscale’s request and annul the order,” the ruling has collected.
Likewise, the court recalled that the SEC recently approved the trading on national exchanges of two bitcoin futures funds, but denied the approval of the one proposed by Grayscale.
“This is a historic milestone for US investors and the bitcoin ecosystem,” said Grayscale CEO Michael Sonnenshein, noting that Grayscale has adhered to US financial rules and regulations.
The bullish sentiment has been transferred in a general way to the price of ‘cryptos’ and ethereum, the second most valuable cryptocurrency, has accumulated a rise of 4.23% since yesterday, reaching 1,715 dollars.
