Grayscale is the most recently founded company. file Form 8-A represents progress toward a potential spot Bitcoin exchange-traded fund.
The move implies registration, allowing issuers to trade on exchanges after their products have been approved. Grayscale’s move comes a day after Fidelity filed its Form 8-A and comes just days ahead of the Securities and Exchange Commission’s upcoming deadline to decide whether to approve a spot Bitcoin ETF.
Grayscale is looking to transform its flagship product, the G. BTC
+2.60%
“At Grayscale, we continue to work with the SEC to register GBTC as a spot Bitcoin ETF on NYSE Arca,” a Grayscale spokesperson said. “Grayscale is prepared to operate GBTC as an ETF upon receipt of regulatory approval.”
preparation
Expectations have risen for America’s first spot Bitcoin ETF if approved by the SEC.
ETF issuers including BlackRock and Fidelity filed revised registration forms with the SEC in late December, which was seen as a final push for spot Bitcoin ETFs. BlackRock designated Jane Street Capital and JP Morgan Securities LLC as authorized participants.
The issuer is ironing We have revealed details about these potential spot Bitcoin ETFs over the past few weeks, including discussion of creation and redemption models, naming approved participants, and hard forks.
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About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.