Bitcoin recorded its best daily performance since March

Bitcoin soared after a US court ruling boosted the future prospects of retail investor-friendly funds, and investors said Grayscale's win is likely now factored into the SEC's future decisions on spot bitcoin ETFs filed this year by several major financial firms, including Including the world's largest asset manager BlackRock (BLK.N).

A federal court said on Tuesday that the SEC's rejection of Grayscale Investments' proposal was arbitrary and capricious, giving the crypto asset manager a historic victory that could pave the way for the first product of its kind.

The value of the world's first digital currency, bitcoin, rose by more than 7% after the news, to record its best daily performance since March, as it rose to $ 27,920, and before the ruling, bitcoin was on its way to its worst month since November 2022.

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