All COFO FEED

Grayscale and VanEck Register with Exchanges for Spot Bitcoin ETF Shares

General News
2024-01-05 17:23:47
504

Asset management firms Grayscale Investments and VanEck have filed registrations with the SEC. They plan to list shares of their spot Bitcoin ETFs on the NYSE Arca and Cboe BZX Exchange, respectively.

These filings, submitted separately on January 4, are part of the process to register an ETF with the SEC. VanEck Bitcoin Trust plans to list on Cboe BZX Exchange, while Grayscale Bitcoin Trust aims for NYSE Arca. This follows a similar move by the Fidelity Wise Origin Bitcoin Fund on January 3.

The SEC is currently reviewing multiple spot Bitcoin ETF applications, with industry expectations for a decision in the coming week. There's speculation that the SEC might approve several ETFs before a January 10 deadline for a proposal from ARK Invest and 21Shares.

However, these Form 8-A filings don't guarantee SEC approval. Bloomberg ETF analyst James Seyffart suggested on X (formerly Twitter) that approvals would require a completed 19B-4 Form and S-1 document.

The SEC has yet to approve a spot Bitcoin ETF for U.S. exchanges. Several asset managers, including BlackRock, Bitwise, Fidelity, Valkyrie, WisdomTree, and Invesco Galaxy, have pending applications for spot Bitcoin and Ether ETFs.

In the U.S., crypto traders have had access to BTC futures-linked investment vehicles since 2021, following the SEC's approval of a ProShares offering. Meanwhile, Canadian regulators approved a spot Bitcoin ETF from Purpose Investments in 2021.

Cointelegraph

 

Only login in users can review, please log in or signup

Similar news