Grayscale Persists in Spot Bitcoin ETF Quest Despite Delays; Approval Seen Likely in Early 2023
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Grayscale has continued talks with the SEC about converting its GBTC fund into a spot Bitcoin ETF, filing updated paperwork and agreements.
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Industry analysts predict Bitcoin spot ETF approval timeframes, with some expecting approval in early January 2023.
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Competing firm Ark Invest likely to kickstart its spot Bitcoin ETF using its Grayscale shares if approved.
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Hashdex delayed its spot Bitcoin ETF application after an SEC meeting, but seen as positive for working on details.
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BlackRock presented revised in-kind redemption model to SEC for its spot Bitcoin ETF plans.