Grayscale Files Amendment for Bitcoin Spot ETF with SEC
The asset manager Grayscale has recently filed an amended request for its Bitcoin spot Exchange-Traded Fund (ETF) with the Securities and Exchange Commission (SEC).
However, in its amended form, the American giant has not yet revealed the details regarding Authorized Participants (APs), which are typically financial institutions or companies capable of creating and redeeming ETF shares.
This omission raises questions, as the SEC places great importance on this information when approving ETFs.
Grayscale Joins Other Applicants for Bitcoin Spot ETF
Several funds, like Fidelity, WisdomTree, and Invesco Galaxy, have recently filed their latest versions of Bitcoin ETF requests, including details of their Authorized Participants.
For example, WisdomTree and Fidelity have listed Jane Street Capital. Invesco Galaxy, on the other hand, has chosen Virtu and JPMorgan.
It is worth noting that in June 2022, Grayscale stated its intention to list Jane Street and Virtu Financial as its Authorized Participants when converting its Grayscale Bitcoin Trust to an ETF. The absence of this information in Grayscale’s current documentation is particularly noteworthy.
