Published on January 04, 2024 14:12 GMT+00:00edited on January 04, 2024 14:14 GMT+00:00

Grayscale is the latest firm to file its Form 8-A, signaling progress towards a potential spot bitcoin exchange-traded fund.

The move signifies registration that allows issuers to trade on an exchange once the product has been approved. Grayscale's move comes a day after Fidelity filed its Form 8-A and days ahead of an upcoming deadline for when the Securities and Exchange Commission will have to decide whether to approve or disapprove of a spot bitcoin ETF. 

Grayscale is looking to convert its flagship GBTC fund to a spot bitcoin ETF, following a long journey and an August court win that ruled that the SEC has to re-review Grayscale's bid for a spot bitcoin ETF. Other firms including BlackRock and Fidelity have thrown their hats in for a spot bitcoin ETF over the past year.