While investors and the market were waiting for positive news from the SEC regarding spot Bitcoin ETFs, a new step came from Grayscale, one of the companies applying for the ETF.
Accordingly, Grayscale filed Form 8-A with the SEC and registered securities to launch the spot Bitcoin ETF.
Commenting on the issue, Grayscale chief legal officer Craig Salm said from the X account, “We are just filling out some Forms.”
Form 8-A offered by Grayscale is among the mandatory forms that must be submitted by the SEC for organizations that want to issue securities. Additionally, form 8-A allows ETF issuers to trade on an exchange. This signals progress towards potential approval of a spot Bitcoin ETF.
Speaking to The Block at this point, a Grayscale spokesperson said:
“Grayscale continues to work collaboratively with the SEC to list GBTC as a spot Bitcoin ETF on NYSE Arca.
“Grayscale remains ready to operate GBTC as an ETF upon receipt of regulatory approvals.”
Bloomberg analysts Eric Balchunas and James Seffart stated that there is a high probability of approval from the SEC regarding spot Bitcoin ETFs, and they expect the possible approval to come by January 10.
*This is not investment advice.