The SEC has opened talks with Grayscale over its bid for a spot bitcoin ETF conversion: report

The SEC has reportedly opened talks with Grayscale over the firm's application to convert its flagship fund into a spot bitcoin ETF

The Securities and Exchange Commission has opened talks with Grayscale Investments over the firm's application to convert its flagship fund into a spot bitcoin exchange-traded fund, according to a report.

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. The court specifically addressed the SEC's differential treatment of spot bitcoin ETFs and similar funds based on futures contracts, which the regulator has approved.

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