(CNBC) The price of bitcoin surged Tuesday after the U.S. Court of Appeals for the DC Circuit ruled that the Securities and Exchange Commission was wrong to deny crypto investment giant Grayscale permission to convert its popular bitcoin trust into an ETF. Bitcoin jumped 7.15% following the ruling to $27,851.82, according to Coin Metrics. The move lifted cryptocurrencies broadly as well as crypto equities higher.
Bitcoin rallies more than 7% as court sides with Grayscale over the SEC in crypto ETF case
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