Bitcoin Price Drops Back After SEC Delays Fund Decisions

Bitcoin and other cryptocurrencies have given up recent gains, after the Securities and Exchange Commission delayed decisions on whether to approve spot bitcoin exchange-traded funds.

Bitcoin recently traded at slightly under $26,000, according to CoinDesk, after spiking to around $28,000 Tuesday. Ether was at around $1,645.

Crypto prices picked up after a court ruled that the SEC shouldn’t have rejected asset manager Grayscale’s application to operate a spot bitcoin .