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 <p class="is-style-lead">Coinbase shares soar 15% as U.S. federal court ruling favors Grayscale’s Bitcoin ETF, signaling a transformative moment for the crypto industry.</p> 
 <p>Coinbase Global Inc. shares saw a massive spike following Grayscale’s victory over the SEC, paving the way for the inaugural Bitcoin exchange-traded fund (ETF) in the United States. This is due to the fact that Coinbase is a custodial partner in several pending Bitcoin ETF applications. The exchange’s <a rel="dofollow" title="stocks" href="https://thebittimes.com/tag/stocks.html">stocks</a> rallied by over 15% since the Federal court’s ruling, while Bitcoin <a rel="dofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> companies like Marathon Digital and Riot Platforms also recorded substantial gains, 24% and 15%, respectively.</p> 
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    <p lang="en" dir="ltr">THIS JUST IN: The D.C. Circuit ruled 3-0 in favor of Grayscale and $GBTC. This is a monumental step forward for all who have been advocating for Bitcoin exposure through the added protections of the ETF wrapper. Read the decision: https://t.co/ulAtcsad2G pic.twitter.com/BNZABvM7tw</p>— Grayscale (@Grayscale) August 29, 2023
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> SEC to rule on five Bitcoin ETFs before Labor Day weekend 
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 <p>The court’s decision to reject the SEC’s opposition is poised to reshape the cryptocurrency landscape in the U.S., a market that has long struggled with regulatory skepticism. While spot Bitcoin ETFs have been a topic of controversy for years, the recent ruling is perceived as a landmark for the industry. For a decade, U.S. regulatory authorities had been dismissing applications for such financial products, often pointing to concerns of market manipulation and fraud.</p> 
 <h2 class="wp-block-heading" id="is-grayscale-s-etf-win-fueling-a-market-shift">Is Grayscale’s ETF win fueling a market shift?&nbsp;</h2> 
 <p>Coinbase’s surge was part of a broader rally in cryptocurrency-related equities. Grayscale Investments’ Bitcoin Trust (GBTC) also saw its shares skyrocket approximately 21% on the same day. GBTC’s performance outshone even Bitcoin (BTC), which posted nearly a 7% increase, lifting its trading price above $27,700.</p> 
 <p>GBTC’s robust showing helped it close the gap between its trading value and its actual Bitcoin holdings. The discount slimmed down to under 17% in New York on the same day, a significant contrast to the 45% difference earlier in the year, and the 25% disparity just the day before. This move suggests the market is actively responding to the latest regulatory advancements, recalibrating valuations in real time.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> SEC charges Impact Theory over unregistered NFT securities offering 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/coinbase-bitcoin-mining-stocks-soar-after-grayscale-s-win-over-sec-tbt60863.html">https://thebittimes.com/coinbase-bitcoin-mining-stocks-soar-after-grayscale-s-win-over-sec-tbt60863.html</a></p>

Coinbase, Bitcoin mining stocks soar after Grayscale’s win over SEC

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