First bitcoin ETF could be coming soon as court rules in favor of Grayscale over SEC

The U.S. Court of Appeals for the D.C. Circuit has paved the way for bitcoin exchange-traded funds.

On Tuesday, the court sided with Grayscale in a lawsuit against the Securities and Exchange Commission which had denied the company’s application to convert the Grayscale Bitcoin Trust to an ETF. The decision could impact other companies that want to create bitcoin ETFs, like BlackRock and Fidelity.

A spot bitcoin ETF would be traded through a…