Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning, today is Wednesday, August 30th, and I'm your host Julie Morgan.

Grayscale wins a court ruling against the SEC.

Hurricane Idalia has strengthened into a major storm.

Construction stocks may get a lift.

And Planet Fitness is expanding a pricing pilot.

Here's what's making headlines today.

The U.S. Securities and Exchange Commission must vacate its rejection of Grayscale's attempt to convert Grayscale

Bitcoin Trust into a Bitcoin E. T. F. Grayscale Bitcoin Trust closed Tuesday's

trading up nearly 17 percent while Coinbased Global jumped just shy of 15% on the news.

And Bitcoin top 27,000 for the first time since August 17th.

A three-judge appeals panel in Washington on Tuesday vacated a

decision by the SEC that blocked the ETF and sent it back to the regulator

according to the court opinion. The opinion said in part in the absence of coherent explanation,

this unlike regulatory treatment of like products is unlawful.

We therefore grant Grayscale's petition for review and vacate the Commission's order.

Greyscale sued the SEC last June after the agency felt that its product failed to meet requirements designed to prevent fraudulent acts and protect investors.

Grayscale CEO argued that U.S. regulators were discriminating against his cryptocurrency investment firm by continuing to deny approval of ETFs

based on the spot price for Bitcoin.

In a statement following the ruling, Grace Gell said,

this is a monumental step forward for American investors, the

Bitcoin ecosystem and all those who have been advocating for Bitcoin exposure through

...