Grayscale Pursues Bitcoin ETF Conversion, Prompted by Recent Court Ruling

Grayscale Pursues Bitcoin ETF Conversion, Prompted by Recent Court Ruling



Investment behemoth Grayscale has submitted a fresh filing to the U.S. Securities and Exchange Commission (SEC) as part of its persistent efforts to transform its Grayscale Bitcoin Trust into a Bitcoin ETF.



The Block reports that this move follows closely after the D.C. District Court's decision, instructing the regulatory body to reevaluate Grayscale's proposal.



Grayscale opted for the S-3 filing, a more concise alternative to the usual S-1 filing for proposing new shares. This occurs as other leading financial institutions, like BlackRock and Fidelity, are also in pursuit of the SEC's nod for Bitcoin ETFs.



Grayscale clarified its eligibility to utilize Form S-3, given that since January 2020, its shares have been registered under the Securities Exchange Act of 1934, satisfying other necessary criteria.



GBTC plans to


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#Altcoin, #Bitcoin, #BitcoinETF, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #ETF, #Ethereum, #News, #Regulations

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