It’s a story that has gained more coverage than any other event in recent cryptocurrency memory. Yet such is the influence of spot bitcoin exchange-traded fund (ETF) approval, that another promising update has moved the dial once again.
In this instance, the US Securities and Exchange Commission (SEC) published a memo showing that the SEC’s special counsel David Remus met with Grayscale Investments to discuss its application to convert the Grayscale Bitcoin Trust (GBTC) into an ETF.
“The discussion concerned NYSE Arca, Inc.’s proposed rule change to list and trade shares of the Grayscale Bitcoin Trust (BTC) under NYSE Arca Rule 8.201-E,” read the memo.
NYSE Arca is a regulated ETF exchange and a subsidiary of the New York Stock Exchange.
It has been a remarkable turnaround for the SEC, which for years refused to entertain the idea of bringing bitcoin-linked products onto the traditional stock exchange. But with…
