{"id":83743,"date":"2023-08-29T18:16:16","date_gmt":"2023-08-29T15:16:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83743"},"modified":"2025-09-12T13:02:41","modified_gmt":"2025-09-12T10:02:41","slug":"bitcoin-price-surpasses-27500-after-court-ruling-in-grayscales-favour","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-surpasses-27500-after-court-ruling-in-grayscales-favour\/","title":{"rendered":"Bitcoin price surpasses $27,500 after court ruling in Grayscale’s favour"},"content":{"rendered":"

Prices of the leading cryptocurrency rose by almost 6% in an hour to around $27,500 after the granting<\/a> of Grayscale Investments’ motion in its case against the SEC<\/span>.<\/p>\n

\"Bitcoin
15-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

At the time of writing, the price of the digital gold stood at around $27,300, according to CoinGecko<\/a>. Over the past seven days the price has risen by about 5%.<\/p>\n

In June, Grayscale, an asset manager, filed a lawsuit<\/a> against the regulator for refusing to convert its flagship GBTC trust into a Bitcoin ETF. The company filed<\/a> an application with the SEC to convert the investment product in October 2021.<\/p>\n

The appellate court ordered the SEC to reconsider its decision.<\/p>\n

The court ruling followed a series of petitions to the SEC by several major financial institutions such as BlackRock<\/a> and Fidelity<\/a> for registering spot-price-based Bitcoin ETFs. Bitcoin futures ETFs have been trading<\/a> in the United States since 2021.<\/p>\n

In July 2022, Grayscale’s head of the legal department, Craig Salm estimated the possible timeline<\/a> for the SEC litigation at one to two years.<\/p>\n","protected":false},"excerpt":{"rendered":"

The price of the leading cryptocurrency rose by almost 6% in an hour to around $27,500 after a U.S. court granted Grayscale Investments’ motion in its case against the SEC.<\/p>\n","protected":false},"author":1,"featured_media":83744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1162,943],"class_list":["post-83743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-court-cases","tag-grayscale-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=83743"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83743\/revisions"}],"predecessor-version":[{"id":83745,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83743\/revisions\/83745"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83744"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}