Grayscale is meeting with the SEC again to discuss its spot Bitcoin ETF application, and Hashdex becomes the second company to file a crypto ETF ad.
Grayscale reportedly met with the SEC on Tuesday to discuss possible rule changes to its ETF application. A leaked memorandum from Bloomberg reporter James Seyffart shows that Grayscale is still pushing for in-kind and cash transactions for its spot Bitcoin ETF.
Non-cash transactions refer to the process by which ETF shares are created or redeemed through the exchange of securities such as stocks or bonds instead of cash. This method efficiently manages the ETF portfolio and helps minimize tax implications for investors.
Grayscale also suggested that only authorized participants should be able to create and redeem Bitcoin ETP shares and must be registered with FINRA.
The advertising war for Bitcoin ETFs is heating up
The excitement around ETFs continues to grow, and Hashdex today ran an ad promoting the upcoming crypto ETFs. Hashdex is the second company to release such an ad as Bitwise yesterday launched the first ETF featuring popular actor Jonathan Goldsmith. Following Hashdex's post today, Bitwise released a second ad that read, “Greetings from Satoshi.”
Grayscale and Blackrock's frequent meetings and positive advertisements suggest ETF approvals are imminent. Experts expect that several applications will be approved by the SEC in January.
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