The U.S. could be on the verge of getting its first spot bitcoin exchange-traded fund after a federal court ordered the Securities and Exchange Commission to review its rejection of Grayscale Investments’ attempt to convert the Grayscale Bitcoin Trust (GBTC) into an ETF.

Grayscale Investments, the manager behind the leading cryptocurrency fund, first applied to convert its GBTC closed-end fund into an exchange-traded fund in October 2021.

Watch Ark Invest's Cathie Wood correctly predict the overturning of the SEC's Bitcoin ETF decision in an exclusive interview with Benzinga CEO Jason Raznick. The full episode will premier tomorrow on BenzingaTV and RazReport.com at 2PM ET.