Digital asset investment firm Grayscale Investments has filed a new registration statement with the Securities and Exchange Commission (SEC) in an effort to convert its Grayscale Bitcoin Trust into a spot bitcoin exchange-traded fund (ETF). This follows a ruling from a D.C. circuit court directing the SEC to re-review Grayscale’s application. Grayscale claims eligibility to use Form S-3 for its filing since its shares have been registered since January 2020. The company plans to list the shares on NYSE Arca under the symbol GBTC and issue them on an ongoing basis pending approval from NYSE Arca. The filing precedes a final ruling from the U.S. Court of Appeals for the D.C. Circuit, which is expected to reaffirm its initial August ruling. Grayscale’s application is among several being considered by the SEC’s staff and Commission for registration as exchange-traded products.
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