Spot Bitcoin ETF News: Grayscale Updates GBTC File, Plans to Change Ticker to BTC

While investors eagerly await the approval of the spot Bitcoin ETF, potential issuers are taking important steps. Discussions with the SEC are ongoing, and updates in the files serve as confirmation of this communication. The latest move comes from Grayscale just a few minutes ago.

Spot Bitcoin ETF News

Grayscale has updated its S-3 filing, making the plan to change GBTC’s ticker to BTC official. The change, shared by Bloomberg ETF Specialist James Seyffart, represents a new step towards the transformation of GBTC from a trust to an ETF.

In the past 24 hours, GBTC’s negative premium has dropped to 11%, and optimism for the possible approval by the SEC has increased further after the Binance settlement. James also said:

“Many people are asking what this means. I haven’t read them all, but we are talking about more things that confirm Grayscale’s discussions with the SEC and the updates/changes in the offering documents following the discussions and feedback from the SEC.”

We have also seen recent updates in the filings from BlackRock and others. Due to Thanksgiving in the US, these updates will slow down for a while. However, experts still give a 90% chance of ETF approval by January 10th.

Source