The crypto community was delighted when the District of Columbia Circuit Court of Appeals overturned the United States Securities and Exchange Commission’s (SEC) rejection of Grayscale Investments’ Bitcoin spot ETF application. Adam Cochran of Cinneamhain Ventures and Miles Deutscher, an influencer, both expressed their enthusiasm on X. Grayscale’s chief legal officer Craig Salm acknowledged the court’s decision as a “straight-forward question about equal treatment under the law.” Analysts, however, were more cautious, noting that the SEC still had options for its next steps. Crypto lawyer John Deaton asked if SEC chairman Gary Gensler would accept defeat or talk about how the three judges got it wrong. Blockchain Association chief policy officer Jake Chervinsky suggested that the SEC accept defeat as a “face-saving narrative” and “the right move” after “a huge embarrassment.” Others were less optimistic, noting that the SEC had previously pursued “shenanigans” after losing in court. Austin Campbell of Zero Knowledge Consulting pointed out that fighting back could be costly for many companies. Jeremy Hogan of crypto lawyer reminded the community to be aware of what it prays for, noting that the Grayscale win could bring “Big Money” to the table.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	9
People	Gabriel Shapiro, Jake Chervinsky, Miles Deutscher, Craig Salm, John Deaton, Adam Cochran, Jeremy Hogan, Austin Campbell
Companies	Blockchain Association, Cinneamhain Ventures, Grayscale Investments, Delphi Labs, Zero Knowledge Consulting., United States Securities and Exchange Commission
Currencies	US Dollar, Ethereum, Bitcoin
Securities	None