The gist of the case is the US Securities and Exchange Commission (SEC) repeatedly rejecting Crypto investment firm Grayscale’s proposal to convert the Grayscale Bitcoin Trust into an ETF.
An approved ETF would mean crypto assets trading directly on traditional U.S. financial exchanges, which would be a boost for the class. The SEC has already allowed the launch of several bitcoin futures ETFs.
Legal pundits are expecting the court decision sometime this week. There are murmurings it could come as soon as Tuesday.