Oct 16, 2023
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The long-running fight to launch a US exchange traded fund investing directly in bitcoin has passed another hurdle after the regulator declined to contest a court ruling made against it. The US Securities and Exchange Commission had until Friday to appeal against an August federal appeals court ruling that it had been wrong to reject an application from cryptocurrency house Grayscale Investments to convert its $16.7bn Bitcoin Trust (GBTC), the world largest crypto fund, into an ETF.