Grayscale and Fidelity have filed Form 8-A, signaling significant strides towards launching the U.S.’s first spot bitcoin ETF. This action is crucial, marking a potential shift in the cryptocurrency landscape.
Crucial Filings Ahead of the SEC Deadline
Grayscale’s recent filing, closely following Fidelity’s, arrives just as the SEC nears its decision on approving a spot bitcoin ETF. This development symbolizes readiness for exchange trading upon approval.
Grayscale is looking to transform its G BTC fund into a spot ETF, bolstered by an August court victory that forced the SEC to revisit its application.
This move is echoed by industry giants like BlackRock and Fidelity, showcasing a widespread push for this new investment vehicle.
Grayscale’s spokesperson confirms their preparedness: “Upon regulatory approvals, we’re set to operate GBTC as an ETF.” This readiness underlines a major commitment to integrating cryptocurrencies into mainstream finance.
As the decision date approaches, the market holds its breath. A positive outcome could redefine cryptocurrency investments, marking a significant milestone for cryptocurrencies in the mainstream financial sector.
Also Read: Tuttle Capital Plans Issuing 6 Leveraged Spot Bitcoin ETFsÂ
