{"id":86803,"date":"2023-11-09T10:50:06","date_gmt":"2023-11-09T08:50:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86803"},"modified":"2025-09-13T07:47:43","modified_gmt":"2025-09-13T04:47:43","slug":"media-reports-say-grayscale-and-sec-in-talks-over-gbtc-conversion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-reports-say-grayscale-and-sec-in-talks-over-gbtc-conversion\/","title":{"rendered":"Media reports say Grayscale and SEC in talks over GBTC conversion"},"content":{"rendered":"

The U.S. Securities and Exchange Commission (SEC) has begun talks with Grayscale Investments regarding the details of converting GBTC<\/span> into a spot Bitcoin-ETF<\/a>. CoinDesk reports this, citing a source familiar with the matter.\u00a0<\/p>\n

The company is engaging with two regulator divisions \u2014 the Division of Trading and Markets and the Division of Corporate Finance. They will play a role in drafting and approving the firm\u2019s documents for the exchange-traded fund.\u00a0<\/p>\n

In June, the asset manager f\u200biled a lawsuit<\/a> against the SEC for denying the conversion of its flagship trust. The firm submitted<\/a> the corresponding petition in October 2021.\u00a0<\/p>\n

At the end of August, the court granted<\/a> Grayscale\u2019s motion and ordered the Commission to reconsider the decision. Later, the appellate court officially affirmed<\/a> the verdict.\u00a0<\/p>\n

\n

\u201cWe are simply focused on a constructive restart of our engagement with the Division of Trading and Markets. There is still more to be done,\u201d said Grayscale\u2019s chief legal officer Craig Salm, without going into detail.<\/p>\n<\/blockquote>\n

According to the company\u2019s plans, the spot GBTC will be listed on the NYSE Arca exchange. After the S-3 form and the separate 19b-4 filing are approved, the firm will begin issuing the product on a permanent basis.\u00a0<\/p>\n

Since the beginning of the year, GBTC has risen by 220%<\/a>. The instrument\u2019s discount to NAV<\/span> narrowed to 14.22% amid expectations of an ETF launch. In January the figure stood at 48.31%<\/a>.<\/p>\n

In July, the SEC began reviewing requests to launch spot Bitcoin ETFs from BlackRock, VanEck, Invesco, Fidelity Investments and WisdomTree. Franklin Templeton later joined them.<\/p>\n

On 31 August the regulator delayed<\/a> decisions on several applications at least until mid-October. By the end of September the regulator pushed back<\/a> consideration of the filings to January 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Securities and Exchange Commission has begun talks with Grayscale Investments regarding the details of converting GBTC into a spot Bitcoin ETF.<\/p>\n","protected":false},"author":1,"featured_media":86804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[569,943,128,1211],"class_list":["post-86803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-etf","tag-grayscale-investments","tag-sec","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"41","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=86803"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86803\/revisions"}],"predecessor-version":[{"id":86805,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86803\/revisions\/86805"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/86804"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=86803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=86803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=86803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}