Grayscale Seeks to Convert $18B Bitcoin Trust into Spot BTC ETF After SEC Declines Appeal

Grayscale Investments seeks to convert its $18B Grayscale Bitcoin Trust into a spot BTC ETF.

SEC has time until Oct 13 to appeal court ruling stopping Grayscale but decided not to.

GBTC shares proposed to be listed on NYSE Arca under GBTC ticker if approved.

Grayscale's application follows August court ruling questioning SEC's rejection of prior application.

SEC approval of renewed S-3 application will decide fate of Grayscale's spot BTC ETF request.