Grayscale Files New S-3 With SEC, Pushing to Convert Bitcoin Trust Into NYSE Spot ETF After Court Win 

Grayscale Investments, the starring integer plus manager by assets nether absorption (AUM), unveiled connected Thursday its latest submission to the U.S. Securities and Exchange Commission (SEC). This determination seeks to database the Grayscale Bitcoin Trust (GBTC) arsenic a spot exchange-traded money (ETF) connected NYSE Arca. Grayscale’s latest S-3 submission comes connected the heels of Grayscale’s triumph successful tribunal past August. At the time, the U.S. Court of Appeals for the D.C. Circuit overturned the SEC’s erstwhile denial of Grayscale’s registration bid.

Grayscale Eyes NYSE Spot ETF Listing for Bitcoin Trust Post SEC Legal Victory

Undeterred by erstwhile roadblocks, Grayscale is pressing guardant with its ETF registration endeavor, with the ambition to morph GBTC into a publically traded money connected NYSE Arca. This comes connected the backmost of a D.C. Circuit judge’s ruling successful August, pointing retired the SEC’s nonaccomplishment to warrant the “different attraction of akin products” specified arsenic bitcoin futures ETFs.

Post-ruling, Grayscale communicated to the securities regulator that the process should beryllium fast-tracked, allowing GBTC to modulation into a spot Bitcoin ETF. Adding to this, the SEC failed to adhere to the 45-day deadline to entreaty the D.C. court’s verdict. In a bid to expedite the process, Grayscale has chosen to record different S-3 application, which fundamentally serves arsenic a synopsis of a accepted S-1 prospectus.

“Grayscale Investments, the world’s largest crypto plus manager, contiguous announced it filed with the U.S. Securities and Exchange Commission a registration connection connected Form S-3 to registry shares of Grayscale Bitcoin Trust nether the Securities Act of 1933, arsenic amended,” the steadfast declared connected Thursday.

The S-3 announcement dovetails with GBTC’s caller ascension. To illustrate, successful January 2023, GBTC’s discount to its nett plus worth (NAV) exceeded 48%. Just past week, the fig had dwindled to 16.59%, and by October 18, 2023, the discount had shrunk further to 12.54%.

The latest GBTC statistic bespeak that investors are already viewing GBTC done a caller lens, adjacent anterior to its approval. Grayscale operates nether the umbrella of the Digital Currency Group (DCG), serving arsenic 1 of its 5 large subsidiaries.

What bash you deliberation astir Grayscale’s latest S-3 filing with the SEC? Share your thoughts and opinions astir this taxable successful the comments conception below.