Grayscale Investments has filed a new application with the US SEC for a new spot Bitcoin ETF on Oct. 19. According to the registration statement, Grayscale intends to list the shares of Grayscale Bitcoin Trust on the New York Stock Exchange (NYSE) Arca under the ticker symbol GBTC.
The new filing aligns with Grayscale’s ongoing effort to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF, according to a statement by Grayscale.
The firm's announcement mentioned:
“Importantly, GBTC is ready to operate as an ETF upon receipt of these regulatory approvals, and on behalf of GBTC’s investors, Grayscale looks forward to working collaboratively and expeditiously with the SEC on these matters.”
The new filing comes after Grayscale’s recent court victory over the SEC in which the company was told the agency had no basis for denying Grayscale’s request to convert its GBTC product into a spot Bitcoin ETF.
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Policy and Regulation