<p><img src="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-07/643303c8-16bd-4ee8-a983-45a1b78ee66c.jpg"></p><p>The decision relates to an SEC order from 2020 exempting SPIKES Index from the definition of securities futures. </p>