Grayscale, VanECK file Form 8-A for spot Bitcoin ETF
[ad_1]
Form 8-A filings from Fidelity, Grayscale and VanEck indicate that the spot Bitcoin ETF is making progress toward receiving widely expected approval, although the SEC has yet to grant approval.
Grayscale Investments and VanEck submit The Form 8-A, filed with the U.S. Securities and Exchange Commission (SEC) on January 4, signifies that the securities have been registered with the regulator. This is part of the process that would allow issuers to eventually list a Bitcoin (BTC) ETF on an exchange, if approved by the SEC.
The issuer of Grayscale BTC Trust (GBTC), which holds about 620,000 BTC worth more than $26 billion, hopes to convert its current product into an exchange-traded fund that tracks the spot price of Bitcoin. If approved, GBTC will trade on NYSE Arca as a spot BTC ETF.
Fidelity filed the Form 8-A a day before Grayscale and VanEck, as the issuer steps up preparations ahead of a deadline by which the SEC must accept or reject at least one spot Bitcoin ETF bid.
The SEC has a deadline of January 10 to make a decision on the ARK 21Shares Bitcoin ETF. Experts say securities regulators are likely to approve multiple applications before that date, with a 90% chance of acceptance, according to Bloomberg analysts Eric Balchunas and James Seyffart. %.
Traders on decentralized prediction platforms such as Polymarket have placed bets worth more than $1 million that the U.S. Securities and Exchange Commission (SEC) will approve any of 14 issuers to list their spot Bitcoin by January 15 ETF. Amount locked in “Bitcoin ETFs Approved in January,” the .15” contract saw an increase of over $600,000 in two days, despite a Matrixport report suggesting that the SEC may reject all applications in January.
