TechFlow news, according to CoinDesk citing sources familiar with the matter, the SEC has begun negotiations with Grayscale over details regarding the company's application to convert GBTC into a spot Bitcoin ETF, which could have significant implications for the crypto industry. The sources said that since its legal victory, Grayscale has been engaging with the SEC's Division of Trading and Markets as well as the Division of Corporation Finance—both of which play key roles in approving Grayscale’s spot Bitcoin ETF application.
Craig Salm, Grayscale’s chief legal officer, said: “Right now, we’re just focused on constructively re-engaging with the Division of Trading and Markets; there are still some matters to work through.” He did not elaborate on the specifics of the interactions. Salm also noted that other spot Bitcoin ETF applicants, including BlackRock and Fidelity, appear to be making progress in their registration discussions with the SEC. “Overall, it’s been a positive engagement. Approval of a spot Bitcoin ETF is a matter of when, not if,” he said.
