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SEC Backs Down In Grayscale Bitcoin ETF Case, Won’t Contest Court Decision: Report

The Securities and Exchange Commission has reportedly chosen not to contest a court decision that ordered the regulatory agency to review its rejection of Grayscale’s applicationto turn its Bitcoin (CRYPTO: BTC) trust into a more accessible exchange-traded fund (ETF). This move could potentially pave the way for the debut of the first Bitcoin ETF in the country, Reuters reported Friday. This development will be a topic of interest at Benzinga’s Future of Digital Assets conference on Nov. 14. In August, the D.C. Circuit Court of Appeals declared the SEC’s disapproval of Grayscale Investment’s b…