Bitcoin ETF

Bitcoin

Spot

Grayscale Bitcoin Trust

<p>As the cryptocurrency market eagerly awaits the SEC’s approval of a Bitcoin Spot ETF, Grayscale Investments seems well on its way to securing the holy grail. Its meeting yesterday with US regulators brings the digital asset manager closer to its goal.</p>
<h2 id="h-a-decisive-meeting-between-grayscale-and-the-sec">A decisive meeting between Grayscale and the SEC</h2>
<p>Grayscale Investments, the world’s largest digital asset manager, is inching closer to the much-anticipated green light from the SEC to convert its flagship Grayscale Bitcoin Trust (GBTC) into a groundbreaking Bitcoin Spot ETF.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>In a pivotal meeting on November 21st, Grayscale and the SEC discussed in detail the proposal for rule changes to the trading platform NYSE Arca. This regulatory issue is crucial to ultimately permit trading on GBTC shares. Both parties were able to explore the potential challenges and promising prospects associated with the approval of the famous Bitcoin Spot ETF listing.</p>
<p>These talks followed Grayscale’s filing last month with the SEC of a new registration request for its GBTC product as a Bitcoin Spot ETF. Moreover, a federal court has officially ordered the SEC to carefully consider Grayscale’s petition.</p>
<p>Although other heavyweights such as Fidelity and BlackRock are also in the race, Grayscale has a head start following its recent legal victory against the SEC. The transformation of GBTC into a Bitcoin Spot ETF would be a major advance for the adoption of cryptocurrencies by the general public.</p>
<h2 id="h-the-imminent-arrival-of-the-first-us-bitcoin-spot-etf">The imminent arrival of the first US Bitcoin Spot ETF?</h2>
<p>According to reputed experts like James Seyffart, analyst at Bloomberg Intelligence, the likelihood that the SEC will finally give its approval is high. Seyffart <a href="https://twitter.com/JSeyff/status/1727110861196849256" target="_blank" rel="noopener noreferrer nofollow">indicated</a> he heard rumors that the SEC had met last week with other asset management companies to discuss their Bitcoin Spot ETF projects.</p>
<p>“<em>I have also heard rumors that other potential issuers of Bitcoin Spot ETFs had met with the SEC in the last week or so</em>,” he said.</p>
<p>Furthermore, SEC Chairman Gary Gensler recently stated that the agency is “actively working” on these files. Although there is no guarantee, this encouraging language suggests that the long-awaited approval of a US Bitcoin Spot ETF could be coming soon.</p>
<p>If the SEC ultimately gives the green light, Grayscale intends to list its ETF on the NYSE Arca platform under the ticker “GBTC.” This would be a major step towards <a href="https://www.cointribune.com/en/top-3-cryptocurrencies-for-banks-xrp-surprises-alongside-giants-bitcoin-and-ethereum/" target="_blank" rel="noopener noreferrer nofollow">democratizing cryptos</a> with the general public.</p>
<p>With these promising developments, it seems that the United States is finally on the verge of having its first Bitcoin Spot ETF. SEC approval would open the floodgates to a massive influx of institutional capital, further boosting the burgeoning crypto ecosystem. Stay tuned for developments in the coming weeks!</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>

Extraordinary Grayscale-SEC Meeting: Setting Sail for Spot Bitcoin ETF Listing?

Table of Contents

Cointribune EN

Other articles published on Nov 23, 2023

What Does the Current Outlook Indicate for Solana (SOL) Coin?

WOOFi Now Supports Bitget Wallet Connectivity

Bitmain Unveils Special Sale for ANTMINER Z15 Pro to Power Zcash Mining

IOTA Identity 1.0 is Here

Bitcoin Mining: A Surge in Activity and Investment

Grayscale Files Updated Spot ETF As Bitcoin Barrels Past $37,000

Join our free newsletter for daily crypto updates!