Will a pending application and 11,400 letters to the SEC make Grayscale the first spot BTC ETF in the United States? According to the firm “99.96 percent of those comment letters were supportive of Grayscale’s case”.
The regulatory body is currently reviewing Grayscale’s application allowing the firm to convert shares of its Bitcoin Trust into a physically-backed fund, which, if approved,
would be the first spot BTC ETF offering in the United States. The application is nearing the end of a 240-day review process, which started in November 2021 and ends on July 6.
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