{"id":87355,"date":"2023-11-22T11:33:21","date_gmt":"2023-11-22T09:33:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87355"},"modified":"2025-09-13T11:18:14","modified_gmt":"2025-09-13T08:18:14","slug":"grayscale-discussed-details-of-a-spot-bitcoin-etf-with-the-sec","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscale-discussed-details-of-a-spot-bitcoin-etf-with-the-sec\/","title":{"rendered":"Grayscale discussed details of a spot Bitcoin ETF with the SEC"},"content":{"rendered":"

November 20, Grayscale management held<\/a> a meeting with the U.S. Securities and Exchange Commission (SEC) to discuss the process of converting GBTC into a spot bitcoin-ETF<\/a>.\u00a0<\/p>\n

According to documents, at the meeting with the SEC’s Division of Trading and Markets were: Grayscale CEO Michael Sonnenshein, chief legal officer Craig Salm, Director of Exchange-Traded Funds Dave LaValle, four other senior executives and five representatives from the law firm Davis Polk.<\/p>\n

The discussions concerned \u201cthe NYSE Arca rule change proposal for listing and trading GBTC shares under Rule 8.201-E.\u201d<\/p>\n

The Bloomberg ETF analyst James Seyffart noted that Grayscale representatives spoke about signing a fund servicing agreement with the bank BNY Mellon. The institution will act as a counterparty to GBTC, facilitating the issuance and redemption of shares.\u00a0<\/p>\n

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Scott pointed out the Transfer Agent agreement with BNY Mellon in $GBTC<\/a>‘s 8K today because he apparently has eyes everywhere. That said, this agreement is likely something that was always going to be required at some point. Says nothing about timing IMO https:\/\/t.co\/8eIYNMWzzw<\/a><\/p>\n

\u2014 James Seyffart (@JSeyff) November 21, 2023<\/a><\/p><\/blockquote>\n