The U.S. Securities and Exchange Commission has opened talks with Grayscale Investments over the firm's application to convert its fund into a spot bitcoin exchange-traded fund, reported by The Block.
Grayscale has been in contact with both the SEC's Division of Trading and Markets and the Division of Corporation Finance, citing a person familiar with the situation.
Three judges in the U.S. Court of Appeals for the D.C. Circuit ruled in August that the SEC has to re-review Grayscale's bid for a spot bitcoin ETF after the asset management firm sued the agency last year following the rejection of its plan for the conversion of its flagship GBTC fund.
Grayscale submitted a fresh filing a few weeks ago for the fund ahead of the court's release of a formal mandate to assert the August ruling.