The U.S. Securities and Exchange Commission (SEC) is reportedly in talks with Grayscale Investments regarding its application to convert its trust product GBTC into a spot bitcoin exchange-traded product (ETF). This development has significant implications for the cryptocurrency industry, as it could potentially pave the way for everyday investors to enter the digital asset market. Grayscale has been engaged with both the SEC’s Division of Trading and Markets and the Division of Corporation Finance. Other financial giants, such as BlackRock and Fidelity, are also making progress in their discussions with the SEC. While details of the talks remain private, Grayscale’s chief legal officer expressed optimism, stating that it is a matter of “when, not if” the ETF will be approved.

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