Grayscale re-submits Bitcoin spot ETF application to SEC

According to The Block, amidst the rush of major asset management companies applying for physically-backed Bitcoin ETFs, Grayscale has once again submitted an S-3 filing in hopes of approval.

SEC Does Not Appeal, Grayscale Resubmits ETF Application

Grayscale Investments has recently refiled an S-3 registration document with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin exchange-traded fund (ETF). This move comes after a related court ruling in the United States suggested that regulatory authorities reassess Grayscale's application.

According to Grayscale, the company plans to list GBTC on the New York Stock Exchange (NYSE) Arca, with the trading symbol remaining as GBTC. Once approved on the NYSE Arca's 19b-4 form and S-3 form, GBTC will continue to issue shares.

SEC did not appeal the court ruling last week, further enhancing market optimism for a spot Bitcoin ETF, although there are still many processes to go through before it can be listed.

SEC Does Not Appeal in Grayscale Case! Grayscale: Once approved, will convert GBTC into an ETF