Grayscale Amends S-3 Filing as Spot Bitcoin ETF Decision Looms

• Grayscale reportedly submitted an S-3 form to the U.S SEC on January 2.
• This third revision is entirely for the express purpose of adding certain exhibits.

Tuesday saw Grayscale Bitcoin Trust file yet another updated S-3 filing to the SEC in the United States. In light of the fact that the window for the possible approval of a spot Bitcoin ETF opens between January 5 and 10, 2024, this third amendment seeks to transform GBTC into a spot Bitcoin ETF.

Grayscale reportedly submitted an S-3 form to the U.S SEC on January 2, according to a filing. This third revision is entirely for the express purpose of adding certain exhibits; it does not alter any section of the prospectus that is an attachment to the statement. Even Bloomberg ETF experts Eric Balchunas and James Seyffart have pointed out that specifics are lacking.

Complying with SEC

It seems to be little more than a collection of exhibits pertaining to the trust’s interactions with third parties as per the experts. According to Balchunas, there are still no authorized participants (AP) mentioned; the space was left blank.

Concurrently, Grayscale CEO Michael Sonnenshein said “big work week” on Twitter. As the SEC is about to announce the approval of a spot Bitcoin ETF, he seems to be highlighting the next crypto market event. There have been rumors that the SEC would contact Bitcoin ETF providers as early as January 6th.

With the resignation of Grayscale Investments’ chairman, Barry Silbert, Grayscale amended its filing last week. Grayscale is reportedly “bending the knee” to comply with the SEC’s request for cash-only transactions, according to Seyffart.

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