Grayscale's Latest Spot Bitcoin ETF Update. 👀🆕✅
Grayscale, aiming to convert GBTC shares into an Exchange-Traded Fund (ETF), has submitted a new update to the U.S. Securities and Exchange Commission (SEC).
🔹 Bloomberg ETF analyst James Seyffart shared the news, noting a lack of significant details in the update.
🔹Eric Balchunas, another Bloomberg ETF analyst, criticized the update for its unclear points, such as the identity of the authorized participant and transaction fees.
🔹 The SEC has until January 10th to respond to ARK Invest's spot Bitcoin application, with no option for extension. Speculation suggests a simultaneous approval or rejection of all applications is more likely than giving ARK Invest an advantage with an early decision.
Stay tuned for further updates on this critical development in the world of Bitcoin ETFs.
