The name Bitcoin was used in record amounts in documents submitted to the US Securities and Exchange Commission (SEC) last month.
Documents the companies filed with the SEC last month Bitcoin in 1,074 of them name was used. The previous record was broken in May with 810 documents.
There was a 100% month-on-month increase in November compared to 527 documents recorded in the previous month.
The Block research analyst Rebecca Stevens evaluated this as follows:
“This is not a very fair comparison because as quarterly activity reports are released in November, there is an increase in filings as crypto-related companies file 10-Q and 8-K forms.”
The proliferation of documents linked to cryptocurrencies still is gaining more and more recognition is showing. This also indicates that “many firms are interested in ETFs,” according to the analyst.
Nearly 40 of the documents last month came from Grayscale, which is trying to turn Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund.
The SEC is reviewing 13 different exchange-traded fund applications, including Grayscale’s.