News - Bitcoin spot ETF close? SEC speaks with Grayscale

By Luc Vesters

Bitcoin spot ETF close? SEC speaks with Grayscale

Bitcoin (BTC)
ETF
Bitcoin spot ETF close? SEC speaks with Grayscale

The U.S. securities regulator met this Monday with Grayscale, the largest asset manager of Bitcoin. The reason: the company's request for a Bitcoin spot ETF.

Grayscale wants to convert its Bitcoin fund into a spot ETF. The SEC has so far rejected this. A court had ruled this inadmissible. Major Wall Street asset managers, including BlackRock and Fidelity, also want SEC approval for spot Bitcoin ETFs. So far, all have been rejected.

James Seyffart, an ETF analyst at Bloomberg Intelligence, said on X that he had heard rumors of meetings of other Bitcoin ETF candidates. He estimated the likelihood of approval in January 2024 to be very high.

A Bitcoin spot ETF will likely bring billions of dollars to the market.

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