Grayscale Investments® Receives SEC Approval to Uplist Grayscale Bitcoin Trust to NYSE Arca as Spot Bitcoin ETF
STAMFORD, Conn., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Grayscale Investments®, the world’s largest crypto asset manager*, today announced that the U.S. Securities and Exchange Commission (SEC) has approved NYSE Arca’s application pursuant to Rule 19b-4 under the Securities Exchange Act of 1934 to list the shares of its flagship product, Grayscale Bitcoin Trust (BTC) (OTCQX: GBTC) and is expected to declare GBTC’s registration statement on Form S-3 effective as of 5:00 p.m. EST today. The approval of the application and effectiveness of the registration statement will allow GBTC to operate as a spot Bitcoin ETF and will make it among the first such products to be brought to market in the U.S. GBTC shares will be listed on NYSE Arca under the Ticker: GBTC.
- Shares of GBTC are expected to commence trading on NYSE Arca on January 11, 2024.
- Once GBTC shares start trading on NYSE Arca, GBTC shares will cease trading on the OTC Markets and will have automatically been uplisted to NYSE Arca as shares of a spot Bitcoin ETF.
- Current GBTC shareholders do not have to take any action prior to GBTC’s expected uplisting to NYSE Arca.
- Grayscale believes these changes will enable GBTC to more closely track the value of its underlying Bitcoin holdings, after deduction of expenses.