Part 10/16:
The participants highlight the significance of the recent court ruling involving Grayscale and the SEC. The court, comprising bipartisan judges, effectively found the SEC's prior justifications—the perceived need for surveillance sharing and regulated market size—arbitrary and capricious, paving the way for ETF approval. This ruling has generated a surge in optimism within the Bitcoin community, fueling the recent market rally.
They note that the SEC has been changing its approach, with earlier delays and starved responses turning into more active communication, including comments on ETF applications. This signifies a potential shift in regulatory posture—possibly influenced by the court ruling and the broader political landscape.