Grayscale Investments has taken a significant step towards gaining approval for a US spot Bitcoin exchange-traded fund (ETF). The company has filed an S-3 registration statement with the US Securities and Exchange Commission (SEC) to register shares of its Grayscale Bitcoin Trust (GBTC). This move indicates Grayscale’s intention to list the shares on NYSE Arca under the GBTC symbol. The filing of an S-3 form simplifies the reporting process for issuers of registered securities and demonstrates Grayscale’s readiness to issue shares upon approval from NYSE Arca and the SEC. The recent decision by the SEC not to appeal Grayscale’s court victory could expedite the review of its ETF application. This development follows a legal battle over the SEC’s inconsistent treatment of spot and futures Bitcoin ETFs. Grayscale argued that both types of funds carry similar risks and are priced based on the same underlying spot markets. The appeals court agreed, leading to the rejection of the SEC’s stance and potentially paving the way for a Bitcoin spot ETF. Other asset managers, including BlackRock, Fidelity, and Invesco, may also benefit from this decision and see their own spot Bitcoin ETF filings expedited. Grayscale has stated that it is ready to convert GBTC into an ETF as soon as it receives SEC approval.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
People	None
Companies	NYSE Arca, U.S. Securities and Exchange Commission (SEC), BlackRock, Fidelity, Grayscale Investments, Invesco
Currencies	Bitcoin
Securities	None