{"id":198980,"date":"2023-11-23T09:59:58","date_gmt":"2023-11-23T04:29:58","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=198980"},"modified":"2023-11-23T09:59:58","modified_gmt":"2023-11-23T04:29:58","slug":"grayscale-updates-spot-bitcoin-etf-filing-with-us-sec-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/grayscale-updates-spot-bitcoin-etf-filing-with-us-sec-crypto-news\/","title":{"rendered":"Grayscale Updates Spot Bitcoin ETF Filing With US SEC – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Crypto asset manager Grayscale Investments has submitted a revised spot Bitcoin ETF filing after recent discussions with the U.S. Securities and Exchange Commission (SEC). The spot Bitcoin ETF issuers including BlackRock<\/a> and the SEC are undergoing constructive talks, with firms looking to approve a spot Bitcoin ETF first in the United States.<\/p>\n

Grayscale Submits Revised Spot Bitcoin ETF Prospectus<\/h2>\n

According to a filing<\/a> with the U.S. Securities and Exchange Commission (SEC) late November 22, Grayscale submitted an S-3 form for spot Bitcoin ETF filing, seeking to convert GBTC.<\/p>\n

<\/p>\n

The move comes after a meeting<\/a> between the SEC\u2019s Division of Trading and Markets and Grayscale. Grayscale executives, including CEO Michael Sonnenshein, discussed the proposed rule change by NYSE Arca to list and trade shares of the Grayscale Bitcoin Trust (BTC) under NYSE Arca Rule 8.201-E.<\/p>\n

After a judge asked the SEC to reconsider Grayscale\u2019s requests to convert its Bitcoin trust to a spot Bitcoin ETF, constructive discussions happened to approve a spot Bitcoin ETF, the first in the United States. Meanwhile, other giants such as BlackRock and Fidelity are also in the race to approve its spot Bitcoin ETF first.<\/p>\n

<\/p>\n

Also Read: Court Denies Sam Bankman-Fried\u2019s Appeal for Release<\/a><\/strong><\/p>\n

<\/p>\n

Here\u2019s What Is Changed in the Filing<\/h2>\n

Bloomberg analyst James Seyffart said Grayscale made big changes in this amendment compared to the original filing. He noted that the application shortened a line related to cash orders and removed pages of risk disclosures.<\/p>\n

\n

\u201cLooks like they are shortening up this particular filing and telling people they can just view the risk factors in the 10-ks, 8-ks ,and 10-Q\u2019s they already file\/filed. No reason to duplicate in the S-3\u2019s i guess?\u201d<\/p>\n<\/blockquote>\n

The SEC seeks Bitcoin ETF issuers to use cash creates as opposed to crypto as broker dealers cannot deal in Bitcoin. However, Grayscale filing reads that \u201cThe redemptions of shares pursuant to cash orders will only take place if approved by the sponsor in writing, in its sole discretion.\u201d<\/p>\n

Also Read: US Prosecutors Want Binance\u2019s Changpeng Zhao to Remain In the US, What Follows?<\/a><\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"4ws3\"\"4ws3\"<\/div>\n
Changpeng Zhao Faces Prison: Crypto Shift <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"CZ\"\"CZ\"<\/div>\n
Changpeng Zhao: 5 Key Points On The Historic Resignation <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"Apple\"Apple<\/div>\n
Apple Faces iOS P2P Antitrust Lawsuit <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto asset manager Grayscale Investments has submitted a revised spot Bitcoin ETF filing after recent discussions with the U.S. Securities and Exchange Commission (SEC). The spot Bitcoin ETF issuers including BlackRock and the SEC are undergoing constructive talks, with firms looking to approve a spot Bitcoin ETF first in the United States. Grayscale Submits Revised […]<\/p>\n","protected":false},"author":2,"featured_media":194295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-198980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/198980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=198980"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/198980\/revisions"}],"predecessor-version":[{"id":198986,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/198980\/revisions\/198986"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/194295"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=198980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=198980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=198980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}