SEC Meets with Grayscale for Bitcoin ETF, Hashdex Unveils Advertisement

Grayscale Holds Another Meeting with SEC Regarding Bitcoin ETF Application, Hashdex Joins in Crypto ETF Advertising

Grayscale recently had a meeting with the SEC to discuss potential rule changes for their ETF application. A leaked memorandum, shared by Bloomberg reporter James Seyffart, reveals that Grayscale is still advocating for in-kind and cash transactions for their spot Bitcoin ETF.

In-kind transactions involve creating or redeeming ETF shares by exchanging securities, such as stocks or bonds, instead of using cash. This method effectively manages the ETF’s portfolio and minimizes the tax impact on investors.

Grayscale also suggested that only authorized participants, registered with FINRA, should be able to create and redeem Bitcoin ETP shares.

Meanwhile, the excitement surrounding ETFs continues to grow, as Hashdex recently posted an advertisement for their upcoming crypto-ETFs. Hashdex is the second firm to release such an ad, following Bitwise’s release of the first ETF featuring popular actor Jonathan Goldsmith. After Hashdex’s post, Bitwise released a second advertisement with the message, “Satoshi sends his regards.”

The frequent meetings between Grayscale, Blackrock, and the positive advertising from various firms indicate that ETF approvals may be just around the corner. Experts believe that the SEC may approve several applications in January.

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