Posted 11/22/2023, 4:12:04 AM
Grayscale Pushes for Bitcoin ETF With SEC Meetings, GBTC Conversion
- Grayscale executives met with SEC to discuss converting its Bitcoin trust (GBTC) to a spot BTC ETF
- Grayscale signed an agreement with BNY Mellon to act as transfer agent and service provider for the GBTC
- The SEC trading and markets division oversees approval/denial of proposed rule changes for ETFs
- Grayscale's GBTC conversion is being referred to as an "uplisting" which doesn't indicate issues
- Grayscale could dominate the BTC ETF space if GBTC uplists on same day as other spot BTC ETF launches