Grayscale Officially Confirms Plan to File Application for Spot Bitcoin ETF

Grayscale Officially Confirms Plan to File Application for Spot Bitcoin ETF

Leading cryptocurrency money manager Grayscale has officially confirmed its plans to file an application with the U.S. Securities and Exchange Commission its order to convert its Bitcoin Trust into a spot Bitcoin exchange-traded fund.In a lengthy thread, Jennifer Rosenthal, the company’s communications director, says that Grayscale will be ready to ask the SEC for approval as soon as there is a “clear” and “formal” indication from the regulator.

Today, I’m happy to confirm that @Grayscale *WILL* file for $GBTC to be converted into an #ETF as soon as there’s a clear, formal indication from the SEC.— Jennifer Rosenthal (@jenn_rosenthal) October 18, 2021

Last week, CNBC broke the news, citing people familiar with the matter. Digital Currency Group CEO Barry Silbert also started teasing the conversion prior to the official announcement, urging his followers to stay tuned.As reported by U.Today, ProShares revealed earlier today that its Bitcoin futures ETF will start trading on the New York Stock Exchange on Tuesday.

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