Posted 12/3/2023, 9:13:21 AM
Grayscale Seeks SEC Approval to Convert Bitcoin Trust to NYSE-Listed ETF
- Grayscale Bitcoin Trust aims to transform into a Bitcoin ETF to eliminate current discount and align price with Bitcoin value
- Seeks SEC approval to transition from OTCQX to NYSE Arca exchange for better price synchronization and easier investability
- Move depends on SEC relief from Regulation M restrictions which could impede procedures
- If approved, would allow institutional investors a safer way to invest in Bitcoin and track its value
- Recent Bitcoin price and volume surge indicates heightened interest in prospects of a spot Bitcoin ETF