The post Grayscale Files Updated Bitcoin ETF Prospectus After SEC Meeting appeared on BitcoinEthereumNews.com.

Table of Contents Grayscale has submitted an updated spot Bitcoin ETF prospectus following a meeting with the Securities and Exchange Commission (SEC).  Grayscale’s legal representatives and executives had met with the SEC to discuss the product, and the updated ETF prospectus potentially reflects feedback from the SEC.  Grayscale Submits Updated Filing  Grayscale is moving ahead with its plans to convert its popular Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF). The company submitted an updated filing before the Securities and Exchange Commission (SEC) on the 22nd of November. The filing is an amended S-3 prospectus, a type of registration firm used by firms that have previously met other reporting requirements.  In a post on X, James Seyffart, ETF analyst at Bloomberg, suggested that the filing does not make any significant changes. He initially noted that the biggest update was a suggestion to change GBTC’s ticker to BTC. However, he later clarified that Grayscale has no plans to list it as BTC. Grayscale does have a filing for their Global Composite Bitcoin ETF registered with the BTC ticker. However, that may not be launched if the conversion from GBTC gets approval.  “Lot of people asking what this means. Haven’t read through all of it but [it’s] just [one] more data point confirming that Grayscale is in talks with SEC and is making updates/changes to their offering docs after discussions with & feedback from the SEC. Looking for any other new info.“ The analyst also noted that the application had shortened a line related to cash orders and had removed some pages of risk disclosures.  Discussions Between Grayscale And SEC  The development comes after a memo indicated that members of the Securities and Exchange Commission’s Division of Trading and Markets met with members of Grayscale and law firm Davis Polk. The…

---

Filed under: News - @ November 24, 2023 6:20 am