News

Just In: SEC Faces Grayscale’s New Bitcoin ETF Ambition

Grayscale moves ahead with a Bitcoin ETF plan, focusing on a new strategy after winning a key court case against the SEC.
Published by
Just In: SEC Faces Grayscale’s New Bitcoin ETF Ambition

Grayscale Investments is forging ahead with its plans to launch a spot Bitcoin ETF following the SEC’s decision not to contest an August court verdict. This development marks a significant phase in Grayscale’s journey, considering its past legal confrontations with the SEC over similar endeavors. Consequently, the asset manager, known for its crypto-centric portfolio, submitted a fresh application on Thursday, initiating a procedural stride necessary for continuing discussions with another arm of the SEC post-litigation, insider sources revealed.

The legal triumph in August, affirmed by the DC Circuit Court of Appeals, branded the SEC’s prior denial as “arbitrary and capricious,” highlighting the discrepancy in greenlighting bitcoin futures ETFs while obstructing Grayscale’s proposals. The industry now eyes a conclusive mandate expected from the court this week, potentially reshaping the crypto-ETF landscape.

Advertisement

Grayscale Pursues ETF, Files S-3

Amid these anticipations, Grayscale has submitted an S-3 form to the SEC, seeking to register GBTC shares under the Securities Act 1933. Traditionally, ETF aspirants have utilized the S-1 form for equity securities’ initial offerings. However, Grayscale leveraged the S-3 form, simplifying the process due to GBTC’s status as an SEC-reporting entity since January 2020, an update from the company’s recent blog outlined.

The commitment to this path underscores the company’s strategic approach following the Court of Appeals’ decision in August. Industry spectators have since harbored a growing optimism regarding the likelihood of GBTC’s metamorphosis into an ETF.

Advertisement

SEC Reviews Key Grayscale ETF Conversions

For this transformation to materialize, three critical approvals are necessary, Grayscale clarified in its announcement. These include sanctioning NYSE Arca’s 19b-4 filing, securing Regulation M relief, and the SEC’s official declaration of the S-3 form’s effectiveness. While one arm of the SEC appraises the 19b-4 application and Regulation M compliance, another will scrutinize the S-1 and S-3 submissions.

In its communication, Grayscale emphasized its readiness to transition GBTC into an ETF, pending these approvals. The company expressed eagerness to engage with the SEC to expedite the process, ensuring its investors’ interests remain paramount.

Read Also: Binance Hires Another Key Attorney In The SEC Lawsuit

Advertisement

Share
Maxwell Mutuma

Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Trump Picks SEC Crypto Counsel Michael Selig to Lead CFTC Amid Crypto Oversight Push

Michael Selig is the latest candidate who has been chosen by President Donald Trump to…

October 25, 2025
  • News

First Spot XRP ETF Hits Milestone as CME Flags Institutional Interest

Institutional momentum in XRP is accelerating as the first U.S. spot XRP ETF ($XRPR) reached…

October 25, 2025
  • Price Analysis

Can Hype Price Hit $50 After Robinhood Listing?

HYPE, the native token of the decentralized exchange Hyperliquid, has witnessed a notable price surge…

October 24, 2025
  • News

XRP News: Ripple Unveils ‘Ripple Prime’ After Closing $1.25B Hidden Road Deal

In the latest XRP news, Ripple has introduced 'Ripple Prime,' which it plans to integrate…

October 24, 2025
  • News

Traders Price In Two More Fed Rate Cuts This Year After Soft Inflation Data

Traders are betting on the FOMC to make two more rate cuts this year following…

October 24, 2025
  • News

Crypto.com Joins Ripple in Banking License Bid Amid Industry Push for Market Structure Bill

Crypto.com has submitted an application with the U.S. National Trust Bank Charter. It aims to…

October 24, 2025