After Fidelity, Grayscale also presented filing 8-A (for listing on the CBOE), an essential (but not definitive) step for the approval of the spot BTC ETF

BTC spot ETF: the final steps

For applicants for the BTC spot ETF, although this has not yet been approved, it already seems to be time to resolve the final details to allow its operation. And so some have already applied for form 8-A, to register directly with the issuers of the product and be able to trade on the stock exchange.

We are talking about Fidelity and, in the last few hours, Grayscale, which will therefore already be ready to negotiate with the ETF at the time of approval.

For Grayscale, in reality, as we know, the situation is slightly more complicated. As we know, the company is in fact asking for the conversion of its GBTC trust into a spot ETF, while the other applicants, such as BlackRock and, indeed, Fidelity, require new financing.

“At Grayscale we continue to work collaboratively with the SEC to list GBTC on the NYSE Arca as a spot BTC ETF,” the company said in a statement. “Grayscale is therefore prepared to manage GBTC as an ETF subject to regulatory approval.”

The endless wait for ETFs

The wait for the Bitcoin spot ETF may finally be over. There are those who expect approval in the next few hours, but the most cautious continue to consider the days between 8 and 10 January as the most likely period for a response from the SEC.

The new ETF would be the first of its kind for the US, and applicants appear to be settling down in anticipation of the green light from the authorities. BlackRock, for example, has already named Jane Street Capital and JPMorgan as APs. And the market, as demonstrated by the FUD of the last few hours, seems to be particularly sensitive.