GBTC - Grayscale Submits Filing For Bitcoin Trust Transformation; Aims For NYSE Arca Listing | Benzinga
Grayscale Investments has taken another step forward in its journey to transform the Grayscale Bitcoin Trust (OTC: GBTC) into a spot Bitcoin (CRYPTO: BTC) ETF, by lodging a new registration document with the Securities and Exchange Commission (SEC).
This action follows the directive of a D.C. circuit court, urging the regulator to take another look at Grayscale's proposal.
On Thursday morning, the asset management company presented an S-3 filing, a condensed variant of the standard S-1 filing typically utilized for new securities offered by companies in the U.S. before they can be listed on a national exchange.
This latest initiative by Grayscale comes amid efforts by other leading asset management entities like BlackRock Inc (NYSE: BLK) and Fidelity, all endeavoring to gain the SEC's green light for their spot Bitcoin ETFs, The Block reported.
The unfolding scenario points ...