UPDATE 1-US SEC does not plan to appeal court decision on Grayscale bitcoin ETF -source

The U.S. Securities and Exchange Commission (SEC) will not appeal a recent court ruling that found it was wrong to reject an application from Grayscale Investments to create a spot bitcoin exchange-traded fund (ETF), said a source familiar with the matter. The District of Columbia Court of Appeals in Washington in August ruled that the SEC was wrong to reject Grayscale's proposed bitcoin ETF, in a case that has been closely watched by the industry which has been trying for a decade to advance such products. The SEC's decision not to appeal likely paves the way for the agency to review Grayscale's application.