Grayscale Updates Bitcoin Trust Prospectus!

The post Grayscale Updates Bitcoin Trust Prospectus! appeared first on Coinpedia Fintech News

Grayscale has submitted a new prospectus for its plans to convert its Bitcoin Trust into a spot Bitcoin ETF following a meeting with the Securities and Exchange Commission (SEC). The new prospectus, filed on November 22, includes a change to GBTC’s ticker, which could potentially be renamed BTC. However, Bloomberg Intelligence ETF expert James Seyffart clarified that this does not mean the fund will be listed under the BTC ticker. Grayscale’s new filing includes updates and changes to the risk factors and disclosures, shortened from its previous filing. The move comes after a meeting between Grayscale’s executives, legal representatives, and the SEC. Bloomberg analysts have raised the odds of SEC approval for a Bitcoin spot ETF to 90% by January, despite the regulator’s continued delay tactics.