Grayscale Bitcoin Trust has escalated its pursuit of a spot Bitcoin ETF as it lodged an amended S-3 filing with the U.S. Securities and Exchange Commission (SEC) this Tuesday.
This third amendment in their conversion bid comes at a critical time, as the window for the potential green light of spot Bitcoin ETFs looms, slated for January 5-10, 2024.
Dated January 2, the latest amendment from Grayscale mainly adds new exhibits, steering clear of altering any existing prospectus elements. Bloomberg’s ETF experts, James Seyffart and Eric Balchnas, scrutinized the filing, noting a lack of detailed specifics.
The primary focus of these additions centers around the trust’s third-party affiliations. Notably, the updated language around cash-only orders is now more explicit. Amid these developments, Grayscale’s CEO Michael Sonnenshein took to X (formerly Twitter), teasing a “big work week” ahead.
This hint suggests anticipation of a critical announcement from the SEC on the spot Bitcoin ETF approval, potentially as soon as January 6.
This latest amendment indicates Grayscale’s longstanding preparation for the ETF, dating back to 2017. As the crypto market eagerly awaits the SEC’s verdict, Grayscale’s latest filing is crucial in realizing a spot in Bitcoin ETF.
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