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Grayscale Investments close to filing application for spot bitcoin ETF, source says
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cnbc.comGrayscale Investments plans on filing an application to convert the world's biggest bitcoin fund into a spot ETF early next week, according to a person with knowledge of the matter.
The investment firm had intended to file its application to the Securities and Exchange Commission as soon as the agency allowed efforts by competitors for a futures-based bitcoin ETF, said the person. That happened late Friday.
The Grayscale application begins a 75-day review period, said the source, who declined to be identified because the New York-based company hasn't disclosed its plans.
If approved, Grayscale's ETF would be another step in the legitimization of the nascent crypto asset class. Bitcoin has proven resilient, approaching all-time highs over
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