Grayscale Files Application with SEC to Launch New Bitcoin Spot ETF
Summary:
Grayscale, a leading cryptocurrency investment firm, has lodged a proposal with the SEC for a new Bitcoin spot exchange-traded fund (ETF). If approved, Grayscale plans to list shares of its Bitcoin Trust on the NYSE Arca under the ticker GBTC. The move aligns with efforts from other asset managers like BlackRock, ARK Investment, and Fidelity, who are also seeking approval for their respective spot Bitcoin ETFs.
Prominent cryptocurrency-focused investment enterprise, Grayscale, has lodged a fresh proposal with the Securities and Exchange Commission (SEC) to initiate a new Bitcoin (BTC) spot exchange-traded fund (ETF). On October 19th, Grayscale presented an S-3 form registration document to the SEC, stating its intent to list Grayscale Bitcoin Trust shares on the New York Stock Exchange (NYSE) Arca, under the ticker name GBTC. This recent submission aligns with Grayscale’s ongoing objective to transform its Bitcoin Trust into a spot Bitcoin ETF, following their victorious SEC lawsuit concerning a spot Bitcoin ETF review. This strategic move coincides with other significant asset managers, such as BlackRock, ARK Investment and Fidelity, who are similarly vying for SEC approval for their respective spot Bitcoin ETFs. More information about this unfolding story will be provided as and when it becomes available.
Published At
10/19/2023 12:58:51 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.