- Grayscale has filed its Form 8-A with the U.S. securities watchdog.
- The filing comes as the regulator’s deadline for an important decision nears.
- Grayscale’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 industry’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 SEC’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 “just filling out some forms.”
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 “adequately explain why it approved the listing of two bitcoin futures ETPs but not Grayscale’s proposed bitcoin ETP.”
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Other companies that have thrown their hats in for a spot Bitcoin ETF and are awaiting the SEC’s response include BlackRock and Fidelity.
On the Flipside
- This does not mean Grayscale’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
