Grayscale gets SEC approval for Grayscale Bitcoin Trust to list as spot ETF

Grayscale Investments, the world’s largest crypto asset manager announced that the U.S. Securities and Exchange Commission or SEC has approved NYSE Arca’s application pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to list the shares of its flagship product, Grayscale Bitcoin Trust (GBTC) and is expected to declare GBTC’s registration statement on Form S-3 effective as of 5:00 p.m. EST . The approval of the application and effectiveness of the registration statement will allow GBTC to operate as a spot Bitcoin ETF and will make it among the first such products to be brought to market in the U.S. GBTC shares will be listed on NYSE Arca under the Ticker: GBTC. Shares of GBTC are expected to commence trading on NYSE Arca on January 11 . Once GBTC shares start trading on NYSE Arca, GBTC shares will cease trading on the OTC Markets and will have automatically been uplisted to NYSE Arca as shares of a spot Bitcoin ETF. Current GBTC shareholders do not have to take any action prior to GBTC’s expected uplisting to NYSE Arca…Once the shares are listed on NYSE Arca, the Trust intends to issue additional shares on a registered basis under the Securities Act of 1933. Other symbols and stocks in the cryptocurrency space include: lude Riot Blockchain (RIOT), Marathon Digital (MARA), Coinbase (COIN) and MicroStrategy (MSTR).