Court ruling opens door for first Bitcoin spot ETF in US

Federal appeals court ruled SEC was wrong to deny Grayscale's application for a spot bitcoin ETF.
Decision found SEC's reasoning for rejecting spot bitcoin ETFs while approving bitcoin futures ETFs was inconsistent.
Ruling called a milestone for bitcoin ecosystem and investors, with bitcoin price surging over 5% on news.
Other asset managers like BlackRock, Fidelity and Invesco may now have better chance of getting spot bitcoin ETF approved.
Approval of a bitcoin spot ETF would allow mainstream investors easier exposure to bitcoin without needing to directly hold it.