Grayscale wins lawsuit against SEC.

According to court documents, Grayscale has won a lawsuit against the SEC. On August 29, BlockBeats reported that a three-judge panel in Washington overturned the SEC's decision to block the Grayscale ETF. The court stated that "refusing Grayscale's proposal was arbitrary and capricious, as the SEC failed to explain its differing treatment of similar products." As previously reported by BlockBeats, on October 12 last year, cryptocurrency asset management company Grayscale Investments submitted an opening brief in its lawsuit against the US Securities and Exchange Commission (SEC) for rejecting its application for a Bitcoin exchange-traded fund. Grayscale Chief Legal Officer Craig Salm stated that spot ETFs and futures ETFs "have no difference under the Bitcoin background," as "the pricing of CME Bitcoin futures itself is lower than the spot Bitcoin market." The brief stated that the SEC failed to demonstrate why it would have a fundamentally different approach to approving Bitcoin futures ETPs and spot Bitcoin ETPs, thus violating the most basic requirements of the US Administrative Procedure Act.