Grayscale filed an updated spot Bitcoin ETF application on November 22 following the discussion with the SEC with minimal amendments.
Bloomberg analyst, James Seyffart shared a post and noted that the new Grayscale has updated its S-3 filing on November 22, which seeks to convert Grayscale Bitcoin Trust into spot BTC ETF.
The latest update to the filing has come a day after the Grayscale team meeting with the SEC Division of Trading and Markets on November 20. The meeting is expected to have provided guidance and direction to the Grayscale team by the SEC regarding compliance on the spot Bitcoin ETF application ahead of its approval.
Seyffart noted that the application shortened a line related to cash orders and removed pages of risk disclosures.
A prominent finance lawyer, who also formerly worked with Davis Polk – the firm currently representing Grayscale – Scott Johnsson noted that the changes include some risk factors, relating to expanded disclosure of fraud and manipulation risk, which matches ARK Invest’s filing.
Grayscale revisiting the filing suggests that its path to seek approval from the federal agency has come nearer, especially after both parties’ meetings and discussions.
Also Read: BlackRock in Talks with SEC on Bitcoin ETF??
