Firms vying for a spot bitcoin exchange-traded fund have been hard at work behind the scenes, addressing the Securities and Exchange Commission's concerns over spot bitcoin exchange-traded funds over the last several weeks in meetings with the regulator.

ETF issuers have been focusing on feedback, as indicated by high-ranking executives at multiple issuers and recent filings. These meetings have prompted companies like Grayscale to adopt a creation and redemption model preferred by the SEC. This has resulted in issuers agreeing to disclose authorized participants in what the source described as an unusual step. Additionally, concerns regarding hard forks have also been addressed.