Bitcoin Spot ETF: Grayscale Meets With SEC Division Responsible For Approvals
Summary
Asset manager Grayscale had a significant meeting with the Securities and Exchange Commission's (SEC) division of trading and markets on November 20. This is the SEC division responsible for approving or denying proposed rule changes, such as Grayscale's proposal for a Spot Bitcoin ETF. The meeting may indicate that the SEC could be more open to approving the proposal. In preparation, Grayscale has entered a service agreement with BNY Mellon to facilitate share issuance and redemption. Despite these developments, Bloomberg analysts believe there is still only a 90% chance of any Spot Bitcoin ETF being approved by 2024.
