Grayscale And VanEck Files For Exchange Registration Form For Spot Bitcoin ETF

Grayscale, Fidelity, and VanEck have submitted their Form 8-A filings to the U.S. Securities and Exchange Commission (SEC). This filing is a critical step, signaling the necessary registration for issuers to engage in trading on an exchange, contingent on regulatory approval.

Fidelity initiated this latest wave of filings on January 3, setting the stage for Grayscale's subsequent submission. Grayscale, in its filing, confirms its commitment to convert the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. 

These submissions precede a crucial deadline for the SEC to either approve or reject at least one bid for spot Bitcoin ETFs by January 10. Analysts from Bloomberg, Eric Balchunas, and James Seyffart, express optimism, estimating a 90% likelihood of the SEC green-lighting multiple filings by this deadline.

‍

Race to  Spot Bitcoin ETF

An August court victory compelled the SEC to re-review Grayscale's bid, leading to the current pursuit. Other industry heavyweights, including BlackRock and Fidelity, have also entered the fray, expressing interest in spot Bitcoin ETFs over the past year.

The SEC received amended registration forms from ETF issuers including BlackRock and Fidelity in December, which were seen as a final push to create a bitcoin spot ETF. JP Morgan Securities LLC and Jane Street Capital are named as authorized participants of BlackRock. 

With the SEC's deadline looming for the ARK 21Shares Bitcoin ETF on January 10, industry experts anticipate a flurry of approvals. Speculation is rife that the SEC might green-light multiple listings, further advancing the prospects of a spot Bitcoin ETF offering. There is a pivotal week ahead for the cryptocurrency community, as the SEC's verdict on these transformative ETF applications looms large.