Grayscale Makes Bitcoin ETF Securities Filing as End Nears

Grayscale makes Form 8-A filing ahead of the SECโ€™s deadline for spot Bitcoin ETF decision.

Grayscale lanscape with presenting Bitcoin ETF.
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  • Grayscale has filed its Form 8-A with the U.S. securities watchdog.
  • The filing comes as the regulatorโ€™s deadline for an important decision nears.
  • Grayscaleโ€™s Chief Legal Officer confirmed the filing.

As the market and investors were keenly monitoring whether the U.S. Securities and Exchange Commission (SEC) would approve a spot Bitcoin ETF anytime soon, crypto asset manager Grayscale made a move that attracted the industryโ€™s attention.

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On January 4, Grayscale filed its Form 8-A with the securities watchdog, signaling progress toward a potential spot Bitcoin exchange-traded fund as the SECโ€™s deadline nears.

Grayscale Files Form 8-A with the SEC

Commenting on the latest filing, Grayscale Chief Legal Officer Craig Salm revealed on Twitter (X) that he was โ€œjust filling out some forms.โ€

The Form 8-A filing by Grayscale is among the mandatory forms required by the SEC from entities that want to issue securities. It signifies registration, allowing issuers to trade on an exchange once the proposed product has been approved.

In a renewed push, the crypto asset manager is seeking to convert its over-the-counter Grayscale Bitcoin Trust (BTC) (OTCQX: GBTC) to a spot Bitcoin ETF, following an August court order that mandated the SEC to vacate its decision to reject the application.

While the SEC had rejected the application on the grounds of market manipulation concerns, the court faulted the regulator for failing to โ€œadequately explain why it approved the listing of two bitcoin futures ETPs but not Grayscaleโ€™s proposed bitcoin ETP.โ€

Other companies that have thrown their hats in for a spot Bitcoin ETF and are awaiting the SECโ€™s response include BlackRock and Fidelity.

On the Flipside

  • This does not mean Grayscaleโ€™s spot Bitcoin ETF application has been approved. This is one of the requirements, along with other steps on the filing brick road, that must be completed before the SEC decides.

Read why spot Bitcoin ETF approval is unlikely this week:
Bitcoin ETF Approval Unlikely This Week, Expert Predicts

Stay updated on the latest Bitcoin price predictions:
Bitwise Predicts $80k Bitcoin Surge and ETF Approval by 2024 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga is a crypto reporter at DailyCoin covering breaking news. Brian has minor holdings in Bitcoin and Ethereum.

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