Throughout the history of the crypto industry in the United States, the Securities and Exchange Commission (SEC) has been at odds with many companies in the space. This has included everyone from Ripple Labs to Coinbase to Binance. But its latest legal scuffle with Grayscale Investments has the potential to change how we invest in crypto permanently.

Earlier this month, a court ordered the SEC to review its initial rejection of Grayscale’s Bitcoin ETF application. As many of us know, a Bitcoin ETF has been heavily pursued within the industry for years. Many companies, including Grayscale, have unsuccessfully applied to launch a Bitcoin ETF, but it seems the tide might be turning.

Grayscale’s argument is that its ETF is similar to the Bitcoin futures exchange-traded products (ETPs) that already operate in the market. A judge agreed with them and the SEC must now reconsider the application. But should the ETF eventually be approved by the SEC, what would it mean for users?

First, it would mean that there will be yet another way for investors to buy into Bitcoin in the same way that they do traditional assets. One of the major roadblocks to adoption for many crypto lovers is not having as many investment vehicles as they do for things like stocks. And while other investment vehicles for Bitcoin exist in the market, the ETF has been perhaps the most coveted.

Should the SEC approve Grayscale’s ETF, it could open the floodgates for other companies like Gemini and Blackrock (which have applied for ETFs in the past) to launch their own. Not only would this be a major developmental milestone for the crypto industry, but it will bring more investments to Bitcoin and eventually, other crypto as well.

Then there will be the increased acceptance that cryptos will see should an ETF be approved. Many investors, especially institutions, still reject Bitcoin and consider it inferior to other currencies. An exchange-traded fund would mean that Bitcoin would sit among traditional (and more accepted) assets on a mainstream exchange, and this would be unprecedented in the US market.

This could lead to more acceptance of Bitcoin as a whole. In turn, we could also see positive impacts on Bitcoin’s price and price stability moving forward. The market is notoriously volatile, but an ETF could lead to a steady flow of large-scale investments in it.

Beyond the realm of speculative trading, Bitcoin’s utility touches various facets of daily life and leisure. Take sports enthusiasts, for instance. The decentralised currency is not restricted by geographical borders, making it an ideal medium for placing bets on a myriad of sporting events worldwide, from the Premier League football matches in the UK to the Super Bowl in the US. An ETF-induced price stability could bolster confidence in Bitcoin for such transactions, eliminating the anxiety of rapid price fluctuations during the course of a match.

Equally compelling is crypto’s increasing influence in the world of online casinos and the growing number of dedicated bitcoin casino sites. With the allure of instant transactions and reduced fees, a growing number of players are opting for slots, roulette tables managed by live dealers, and innovative games unique to Bitcoin platforms. Here, too, price stability can be a game-changer. Imagine the thrill of hitting the jackpot, only to see your winnings devalue due to an abrupt market dip; a more stable Bitcoin could alleviate such concerns.

In the realm of e-commerce, Bitcoin’s appeal is broadening. Visionary retailers, such as Crypto Emporium, have tapped into this trend, offering a range of luxury products, from cutting-edge electronics like the latest OLED TVs to exquisite jewellery pieces. For the consumer, shopping with Bitcoin might mean bypassing bank fees or dodging currency conversion costs. However, the spectre of volatility often deters potential Bitcoin spenders. If the ETF can promise increased stability, it may usher in a surge of consumers, more confident in receiving commensurate value for their Bitcoin.

Moreover, consider travel agencies and airlines that accept Bitcoin. Travellers could potentially lock in holiday packages or airfares without the concern of their Bitcoin’s value plummeting before their actual journey. Likewise, gourmet restaurants and cafes around the world which accept Bitcoin might see increased patrons opting for this payment method.

Lastly, a potential price spike, a probable outcome of ETF approval, presents a tantalising prospect. For gamblers, it could mean windfalls becoming even more substantial. For the everyday spender, it might translate to getting more bang for their Bitcoin, whether they’re investing in tech or trinkets.

And while we will not know the final outcome of this court ruling for a while, the implications are massive.