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News - 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.
Grayscale had meetings with the SEC’s division of trading and markets yesterday (the division in charge of approving or denying 19b-4’s). Have also heard rumblings of other potential spot #bitcoin ETF issuers meeting with SEC in the last ~week or so. https://t.co/WHs5zxLqVD
— James Seyffart (@JSeyff) November 21, 2023
A Bitcoin spot ETF will likely bring billions of dollars to the market.
