Odaily News According to people familiar with the matter, the United States (SEC) does not plan to appeal Grayscale Investments’ ruling, which may pave the way for the agency to review Grayscale’s spot Bitcoin ETF application. A Grayscale spokesman had no comment. It is reported that the SEC must decide whether to challenge the courts ruling before 12 noon on Saturday, Beijing time. Grayscale previously sued the SEC, claiming that the agency had previously approved certain regulatory agreements to prevent fraud in ETFs based on Bitcoin futures, so the same settings should apply to Grayscale’s spot ETFs because both spot and futures funds rely on Bitcoin price. The appeals court ruled that the SEC arbitrarily rejected Grayscale’s application because it never explained why the two arrangements were materially different. The appeals court is expected to issue a mandate specifying how to enforce its ruling, which could include directing the SEC to revisit Grayscales application. Several other asset managers, including BlackRock, Fidelity and Invesco, are also filing similar applications for a Bitcoin spot ETF with the SEC. The SEC is expected to make a decision on these applications next year at the latest. The SEC press office had no immediate comment. (Reuters)