Bitcoin ETF

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Grayscale Bitcoin Trust

<div class="coinjournal">
 <ul>
  <li>Grayscale submits an updated filing for its Bitcoin ETF days after engaging in talks with the SEC.</li>
  <li>Amendments include a shift in the fee structure from monthly to daily fees.</li>
  <li>Grayscale’s ETF proposal involves the conversion of an existing investment fund.</li>
 </ul>
 <p>In a move signalling potential progress in the spot Bitcoin exchange-traded fund (ETF) approval process, <a rel="noopener noreferrer nofollow" title="Grayscale" href="https://thebittimes.com/tag/grayscale.html">Grayscale</a> has submitted an updated filing for its spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> just days after engaging in <a rel="noopener noreferrer nofollow" title="talks" href="https://thebittimes.com/tag/talks.html">talks</a> with the US Securities and Exchange Commission (SEC).</p>
 <p>The amended S-3 prospectus reflects feedback from the SEC, showcasing the company’s responsiveness to regulatory discussions.</p>
 <h2 id="grayscale-s-amendments-to-its-bitcoin-etf-application">Grayscale’s amendments to its Bitcoin ETF application</h2>
 <p>Grayscale’s latest filing on November 22 involves an amended S-3 prospectus, indicating the company’s commitment to meeting SEC requirements.</p>
 <p>While Bloomberg ETF analyst James Seyffart suggests that the changes may not be groundbreaking, it highlights <a rel="noopener noreferrer nofollow" title="Grayscale" href="https://thebittimes.com/tag/grayscale.html">Grayscale</a>’s ongoing dialogue with the SEC. Notable adjustments include a modification in the fee structure, shifting from monthly to daily fees. This move, as clarified by a company spokesperson, is a structural enhancement rather than an immediate fee reduction.</p>
 <p>The updated filing comes on the heels of a recent meeting between members of the SEC’s Division of Trading and Markets, <a rel="noopener noreferrer nofollow" title="Grayscale" href="https://thebittimes.com/tag/grayscale.html">Grayscale</a>, and the law firm Davis Polk on November 20. The discussions centred on the listing of <a rel="noopener noreferrer nofollow" title="Grayscale" href="https://thebittimes.com/tag/grayscale.html">Grayscale</a>’s proposed ETF on NYSE Arca, with <a rel="noopener noreferrer nofollow" title="Grayscale" href="https://thebittimes.com/tag/grayscale.html">Grayscale</a>’s CEO, Michael Sonnsenhein, actively participating.</p>
 <h2 id="why-grayscale-s-etf-proposal-stands-out">Why Grayscale’s ETF proposal stands out</h2>
 <p>Grayscale’s ETF proposal stands out in the market, involving converting an existing investment vehicle into an ETF. Despite its uniqueness, the SEC’s engagement with Grayscale is seen as a positive indicator for the broader ETF landscape.</p>
 <p>Following a court victory earlier this year, the SEC’s obligation to review Grayscale’s application underscores the evolving dynamics of the Bitcoin ETF space.</p>
 <p>Meanwhile, Grayscale Bitcoin Trust (GBTC) trades at a discount of -11.86% below its net asset value, adding an intriguing element to the ongoing developments in the crypto investment arena.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/grayscale-updates-its-bitcoin-etf-application-following-sec-talks-tbt72173.html">https://thebittimes.com/grayscale-updates-its-bitcoin-etf-application-following-sec-talks-tbt72173.html</a></p>

Grayscale updates its Bitcoin ETF application following SEC talks

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