Cryptocurrency-focused investment firm Grayscale has filed a new spot Bitcoin (BTC) ETF with the SEC as part of its initiative to convert its GBTC fund into an ETF.
A US court ruled that Grayscale GBTC fund to ETF SEC’s submission to the conversion application to refuse Grayscale in the lawsuit filed against right to find then from the company new One summary application came. Grayscale submitted its new spot Bitcoin exchange-traded fund (ETF) application to the US Securities and Exchange Commission (SEC) in a typical manner. S-1 of the file abbreviated One version one that is S-3 file presented as.
For Spot Bitcoin ETF registration statement This S-3 file, which means S-1 is the summary of the file carrying.
The company’s shares offered as investment instruments From January 2020 since Securities Exchange Act of 1934 must be registered within the scope of the form and because it meets other requirements He emphasized that he is eligible to use Form S-3 for filing.
Grayscale said in a statement: of GBTC shares NYSE in Arca GBTC symbol He stated that he plans to list it under
Making a statement on the subject, Bloomberg analyst James Seyffart emphasized the importance of registering the ETF under the 1933 law. stated. He reminded that this filing is different from other filings because the company has already filed reports with the SEC for GBTC since January 2020.
Recently, there has been an important development in the Grayscale-SEC case and the SEC has started the case process. decision not to appeal to the court of appeal had taken it. Experts claimed that after this development, the possibility of Grayscale’s GBTC ETF being approved increased significantly.
Chief Legal Officer Craig Salm said: on 18 October In his statement, he stated that it was only a matter of time before spot Bitcoin ETF approvals came.