SEC Rejects Grayscale’s Proposal to Convert Grayscale Bitcoin Trust Into a Spot ETF

Grayscale Investments’ application to convert its $13.5 billion Grayscale Bitcoin Trust into a spot-based bitcoin ETF was denied by the SEC on Wednesday despite the company’s extensive efforts to win approval.

Grayscale initially filed its application last October but the decision was delayed multiple times as the SEC requested additional information and comment from the public.

[Via]

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