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(Bloomberg) -- A federal appeals court formalized a victory for Grayscale Investments LLC in its bid to create an exchange-traded fund based on Bitcoin over the objection of the US Securities and Exchange Commission.Most Read from BloombergWall Street Trading Rattled by Wild Treasury Moves: Markets WrapTreasury 10-Year Yield Breaches 5% for First Time Since 2007US Push for Release of Hostages May Delay Israeli Ground War, But Won’t Stop ItAn Oil Giant Quietly Ditched the World’s Biggest Carbon C

On Friday, the US Securities and Exchange Commission declined to appeal on earlier positive court ruling for Grayscale.

(Bloomberg) -- The world’s largest Bitcoin fund is surging faster than the cryptocurrency itself as investors anticipate that an ETF centered on the token could soon launch. Most Read from BloombergIsrael Latest: Army Says Hamas Officials Dead; Over 600,000 in Gaza Flee SouthUS Pushes to Contain Israel-Hamas War, Warns Iran About EscalationIsrael Latest: Biden Weighs Trip, Shekel Drops Past 4 Per DollarXi’s $1 Trillion ‘Project of the Century’ Gets a Reality CheckStocks Rise Amid Efforts to Stif