SEC in talks with Grayscale to convert GBTC to Bitcoin ETF!
The SEC has entered into negotiations with Grayscale Investments regarding the conversion of its trust product, GBTC, to a spot bitcoin exchange-traded product (ETF). If approved, this could pave the way for everyday investors to more easily invest in digital assets. Grayscale has been in contact with both the SEC’s Division of Trading and Markets and the Division of Corporation Finance since winning its court fight. The SEC denied Grayscale’s application to launch an ETF that would carry direct crypto assets, leading to a federal court battle, which ended with a panel of judges finding the SEC was “arbitrary and capricious” in its rejection.