Grayscale Investments submitted a new spot Bitcoin exchange-traded fund (ETF) application with the United States Securities and Exchange Commission (SEC) on Thursday.
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- Grayscale’s new filing with the SEC is part of the firm’s efforts to convert its Grayscale Bitcoin Trust, the world’s largest Bitcoin fund, into a spot Bitcoin ETF.
- If approved, the ETF would be listed on the New York Stock Exchange (NYSE) Arca under the ticker symbol GBTC.
- “GBTC is ready to operate as an ETF upon receipt of these regulatory approvals,” Grayscale said in a blog post.
- In late August, a U.S. court ruled in favor of Grayscale, challenging the SEC’s earlier refusal to allow the company’s GBTC fund to be converted into a spot Bitcoin ETF. The SEC did not appeal its August loss.
- Bitcoin price rose 1.4% US$28.585 in the 24 hours to 10:45 p.m. in Hong Kong.
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