Guides: What is Grayscale Bitcoin Spot ETF Ticker?
Grayscale and VanEck’s bold move
As part of a strategic move, Grayscale and VanEck have officially registered to list their Spot Bitcoin ETF shares on major exchanges, NYSE Arca and Cboe BZX Exchange, respectively.
Waiting for SEC verdict
While anxiously awaiting a decision from the U.S. Securities and Exchange Commission (SEC), Grayscale Investments and VanEck have taken proactive steps by filing notices of spot registration of Bitcoin ETF shares.
Also read: What is Valkyrie’s Spot Bitcoin ETF ticker?
The regulatory landscape
On January 4, VanEck Bitcoin Trust and Grayscale Bitcoin Trust submitted Form 8-A to register their ETF shares on Cboe BZX Exchange and NYSE Arca. The Fidelity Wise Origin Bitcoin Fund took a similar step on January 3.
Decisive week ahead
As several BTC spot investment applications await review by the SEC, speculation is growing that the commission could decide on various listings by the looming January 10 deadline, including proposals from ARK Invest and 21Shares.
Also read: Securities lawyers: SEC must itself investigate Bitcoin manipulation following hack
Form 8-A Filings: What to Expect
While these Form 8-A filings signal progress in ETF registration, it is critical to note that they do not guarantee SEC approval. Analysts, including Bloomberg’s James Seyffart, advise watching for approvals indicated by a Form 19B-4 and a completed S-1 document.
Grayscale’s Craig Salm and Michael Sonnenshein added intrigue to the situation with mixed messages about X, sparking speculation about an impending SEC decision.
Uncharted territory for the SEC
No BTC spot exchange-traded product has received approval to be listed and traded on US exchanges. Major players like BlackRock, Bitwise, Fidelity, Valkyrie, WisdomTree and Invesco Galaxy are also awaiting SEC decisions on Spot Bitcoin and Ether ETF applications.
Since 2021, US crypto traders have accessed investment vehicles linked to BTC futures following the SEC’s approval of ProShares’ offering. In contrast, Canadian regulators sanctioned a spot Bitcoin ETF from Purpose Investments the same year.
Grayscale Bitcoin Trust in the spotlight
Industry experts predict a fee war among approved funds as the $27 billion Grayscale Bitcoin Trust (GBTC) anticipates potential approval.
Conclusion: What is Grayscale Bitcoin Spot ETF Ticker?
In the ever-changing landscape of cryptocurrency investing, the recent moves by Grayscale and VanEck to register Bitcoin ETF spot shares mark an important step toward expanding opportunities for investors.
Filings with major exchanges, NYSE Arca and Cboe BZX Exchange, reflect collective anticipation of regulatory approval from the U.S. Securities and Exchange Commission (SEC).
As we enter a decisive week, the crypto community eagerly awaits potential decisions from the SEC, in hopes that the January 10 deadline could usher in a new era for spot ETFs BTC.
Form 8-A filings, while promising, do not guarantee approval, but industry analysts including James Seyffart suggest keeping an eye on Form 19B-4 and the completed S-1 for signs definitive.
The journey to Spot Bitcoin ETFs has been long and patient. Since the SEC’s approval of investment vehicles linked to BTC futures in 2021, the industry has seen gradual but steady evolution. With Canadian regulators already approving a spot Bitcoin ETF, the potential approval in the United States could mark a significant milestone.
reference: watcher.guru