Grayscale Updates its Spot Bitcoin ETF Filing
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Nov. 24, 2023

Grayscale has just updated the application to convert its GBTC into an ETF.

According to James Seyffarth, a Bloomberg analyst, this can be seen as a new signal that the company and the SEC are conducting negotiations.

Grayscale's proposal involves converting the Grayscale Bitcoin Trust, an existing investment vehicle, into an ETF.

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Recent discussions between Grayscale, the SEC and NYSE Arca point to an ongoing dialogue about the possible listing of the ETF. Grayscale's approach has sparked optimism that the ETF will be approved.

A US court granted in late August the company's request to sue the regulator for refusing to convert its GBTC into a Bitcoin-based exchange-traded fund.

The appeals court ordered the SEC to reconsider its decision.

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