Grayscale has continued its effort to seek approval for spot Bitcoin ETF with the asset manager recently organizing a meeting with the SEC.
A memorandum from the SEC reveals that Grayscale met with federal agency’s representatives from the Division of Trading and Markets on November 20. The potential discussion between both the parties involves conversion of Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.
The memo shows that nine members from the federal agency participated in a meeting with the Grayscale Investment team including CEO Michael Sonnenshein along with a team of lawyers from Davis Polk.
It cites that the meeting was held to discuss NYSE Arca Inc.’s proposed rule change while Grayscale seeking to convert and list its Bitcoin Trust as a spot ETF.
On October 19, Grayscale submitted a new Spot Bitcoin ETF filing after a court order ruled the SEC to review its application which the federal agency rejected before.
Also read: ARK Files Third Bitcoin ETF Amendment Amid SEC Talks
