#BTC #Bitcoin #ElonMusk The regulator has not approved the launch of ETFs tracking the spot price of bitcoin for more than a decade, since back in 2013, twin brothers Tyler and Cameron Winklevoss, now owners of the Gemini cryptocurrency exchange, decided to create the first such fund. In June 2023, the world’s largest management company BlackRock submitted an application for registration of a bitcoin ETF. The decision in favor of bitcoin funds was made after Grayscale Investments won a key victory over the SEC in court. A federal appeals court has overturned the SEC’s refusal to grant Grayscale’s application to convert its existing bitcoin trust into a full-fledged ETF. The court called the refusal “arbitrary and capricious” because the SEC representatives could not provide convincing ar
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