According to breaking information, in the Grayscale case, the court allowed the company to proceed with its Bitcoin Spot ETF application and send the application back to the SEC.
The court provided instructions to the SEC on how to proceed with Grayscale's Bitcoin Spot ETF application.
GBTC plans to list its shares on NYSE Arca under the symbol GBTC and to issue shares on a rolling basis upon approval of form S-3 and a separate 19b-4 filing from NYSE Arca.
Other major asset managers, such as BlackRock and Fidelity, are also seeking approval from the SEC for spot Bitcoin ETFs. President Gary Gensler said Wednesday that “staff is working through these multiple applications,” referring to the current applications the agency has received.
*This is not investment advice.