Bitcoin ETF

Grayscale files for new spot Bitcoin ETF on NYSE Arca

Posted on

Grayscale Investments submitted a new spot Bitcoin exchange-traded fund (ETF) application with the United States Securities and Exchange Commission (SEC) on Thursday.

See related article: Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations

Fast Facts

  • 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.

See related article: BlackRock shares go digital on JPMorgan’s Onyx blockchain

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *