BitcoinBTCNews

Grayscale, VanECK file Form 8-A for spot Bitcoin ETFs

1 Mins read

Form 8-A filings submitted by Fidelity, Grayscale, and VanEck indicate progress toward the widely expected approval for spot Bitcoin ETFs, although the SEC has not given the nod yet. 

Grayscale Investments and VanEck filed Form 8-As on Jan. 4 with the United States Securities and Exchange Commission (SEC), marking registration of securities with the watchdog. This is part of a process that allows issuers to eventually list Bitcoin (BTC) ETFs on an exchange should the SEC approve. 

The issuer of Grayscale BTC Trust (GBTC), which holds some 620,000 BTC valued at over $26 billion, hopes to convert its current product into an exchange-traded fund that tracks spot Bitcoin price. GBTC would trade on the NYSE Arca as a spot BTC ETF if approved.


Grayscale
Grayscale’s GBTC holdings | Source: Coinglass

Fidelity had submitted its Form 8-A a day before Grayscale and VanEck as issuers bolstered their readiness ahead of a deadline when the SEC must accept or reject at least one bid for spot Bitcoin ETFs.

The SEC has a deadline of Jan. 10 to decide on the ARK 21Shares Bitcoin ETF. Experts have said that the securities watchdog will likely approve multiple filings by this date, with the chances of acceptance at 90%, according to Bloomberg analysts Eric Balchunas and James Seyffart. 

Traders on decentralized prediction platforms like Polymarket have placed bets worth over $1 million that the SEC issues a go-ahead for any of the 14 issuers to list their spot Bitcoin ETFs by Jan. 15.  The amount locked in the “Bitcoin ETF approved by Jan. 15” contract increased by over $600,000 in two days despite a Matrixport report suggesting the SEC may reject all applications in January.

Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.