Grayscale in Contact with SEC over the Bitcoin Spot ETF Conversion

Grayscale in Contact with SEC over the Bitcoin Spot ETF Conversion

The U.S. Securities and Exchange Commission has opened talks with Grayscale Investments over the firm's application to convert its fund into a spot bitcoin exchange-traded fund, reported by The Block.

Grayscale has been in contact with both the SEC's Division of Trading and Markets and the Division of Corporation Finance, citing a person familiar with the situation.

Three judges in the U.S. Court of Appeals for the D.C. Circuit ruled in August that the SEC has to re-review Grayscale's bid for a spot bitcoin ETF after the asset management firm sued the agency last year following the rejection of its plan for the conversion of its flagship GBTC fund.

Grayscale submitted a fresh filing a few weeks ago for the fund ahead of the court's release of a formal mandate to assert the August ruling.

Source

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