{"id":87334,"date":"2023-11-22T01:45:18","date_gmt":"2023-11-22T06:45:18","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/sec-meets-with-grayscale-to-discuss-spot-bitcoin-etf-listing\/"},"modified":"2023-11-22T01:45:19","modified_gmt":"2023-11-22T06:45:19","slug":"sec-meets-with-grayscale-to-discuss-spot-bitcoin-etf-listing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=87334","title":{"rendered":"SEC Meets with Grayscale to Discuss Spot Bitcoin ETF Listing"},"content":{"rendered":"<div>\n<figure id=\"attachment_134794\" aria-describedby=\"caption-attachment-134794\" style=\"width: 1600px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-134794\" class=\"wp-caption-text\">Source: Grayscale<\/figcaption><\/figure>\n<p>The U.S. Securities and Exchange Commission (SEC) has recently held discussions with Grayscale about converting the Grayscale Bitcoin Trust (GBTC) into its spot Bitcoin exchange-traded fund (ETF).<\/p>\n<p>A memorandum published by the SEC indicates that officials from the agency\u2019s Division of Trading and Markets met with Grayscale Investments on Nov. 20 to consider the listing matters for turning its Bitcoin Trust into a spot bitcoin ETF.<\/p>\n<p>According to the memo, the discussion \u201cconcerned NYSE Arca, Inc.\u2019s proposed rule change to list and trade shares of the Grayscale Bitcoin Trust (BTC) under NYSE Arca Rule 8.201-E.\u201d<\/p>\n<p>The participants of the meeting included David Shillman, the Associate Director in the SEC\u2019s Division of Trading and Markets, who oversees the U.S. equity, options and fixed income markets, and Michael Sonnenshein, the CEO at Grayscale Investments. Grayscale\u2019s external representatives from Davis Polk &amp; Wardwell LLP also attended the meeting.<\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/twitter.com\/fintechfrank\/status\/1727105945120194617\">Another filing<\/a> revealed that Grayscale has agreed with the Bank of New York Mellon for it to act as the transfer agent for the trust\u2019s shares.<\/p>\n<h2>Grayscale Investments\u2019 Spot Bitcoin ETF Filing<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>In October, Grayscale filed an updated application for its spot Bitcoin ETF. The updated application came after the court ruling favor Grayscale\u2019s previous application. More specifically, the U.S. Court of Appeals for the District of Columbia Circuit ruled in favor of Grayscale ordering the SEC to set aside its earlier rejection of Grayscale\u2019s application and reopen the review process.<\/p>\n<p>In the meantime, other major financial institutions, including BlackRock, Ark Invest, and Fidelity are also seeking opportunities to list their spot Bitcoin ETFs. However, the SEC has been constantly postponing applications filed by different entities.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Grayscale had meetings with the SEC\u2019s division of trading and markets yesterday (the division in charge of approving or denying 19b-4\u2019s). Have also heard rumblings of other potential spot <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> ETF issuers meeting with SEC in the last ~week or so. https:\/\/t.co\/WHs5zxLqVD<\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/JSeyff\/status\/1727107454738272370?ref_src=twsrc%5Etfw\">November 21, 2023<\/a><\/p>\n<\/blockquote>\n<p>Bloomberg Intelligence Analyst James Seyffart said that he has also \u201cheard rumblings of other potential spot Bitcoin ETF issuers meeting with SEC in the last week or so.\u201d The frequent discussions may indicate a regulatory shift.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/sec-meets-with-grayscale-to-discuss-spot-bitcoin-etf-listing.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Grayscale The U.S. Securities and Exchange Commission (SEC) has recently held discussions with Grayscale about converting the Grayscale Bitcoin Trust (GBTC) into its spot Bitcoin exchange-traded fund (ETF). A memorandum published by the SEC indicates that officials from the agency\u2019s Division of Trading and Markets met with Grayscale Investments on Nov. 20 to consider [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":87335,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-87334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Meets with Grayscale to Discuss Spot Bitcoin ETF Listing | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Grayscale The U.S. Securities and Exchange Commission (SEC) has recently held discussions with Grayscale about converting the Grayscale Bitcoin\" \/>\n<meta name=\"robots\" content=\"index, follow, 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