Grayscale submitted a filing to the SEC, attempting to convert GBTC into a spot Bitcoin ETF

ChainCatcher news, according to The Block, Grayscale Investments has submitted an S-3 filing to the U.S. Securities and Exchange Commission (SEC) in an attempt to convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.

The filing is a simplified version of the typical S-1 filing used for issuing new shares. Grayscale stated that it is eligible to use the S-3 form for filing because its shares have been registered under the Securities Exchange Act of 1934 since January 2020 and meet the other requirements of the form.

In a statement, Grayscale indicated that GBTC will be listed on NYSE Arca under the ticker GBTC and will continue to issue shares after the stock listing application on NYSE Arca Form 19b-4 is approved and the effectiveness of the Form S-3 registration of shares.