Analysis Today TheBitTimes.com

Representatives from the U.S. Securities and Exchange Commission also met with Grayscale on Nov. 20 in the asset manager’s bid for listing a Bitcoin ETF. Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to discuss the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF. According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. It’s unclear how SEC officials responded to the two proposed models or if they intend to approve a spot BTC ETF after numerous delays and rejections. Looks like @BlackRock also met with SEC! There’s a couple slides in relation to in-kind vs cash creation. Based on this it looks like BlackRock prefers in-kind for their #bitcoin ETF (makes sense as its probably cleanest structure for them & end investors) h/t @btcNLNico https://t.co/AK0XspL4zJ pic.twitter...

Grayscale executives and lawyers met with the SEC to discuss a rule change to list the Grayscale Bitcoin Trust (GBTC). Executives from crypto asset manager Grayscale have met with the Securities and Exchange Commission to discuss details of its flagship Bitcoin (BTC) trust, which the firm wants to convert to a spot Bitcoin exchange-traded fund (ETF). A Nov. 20 SEC memo disclosed Grayscale CEO Michael Sonnenshein, legal chief Craig Salm, ETF head Dave LaValle and four other executives, along with five Davis Polk law firm representatives, met with the SEC’s division of trading and markets. The memo said discuss ions “concerned NYSE Arca, Inc.’s proposed rule change to list and trade shares of the Grayscale Bitcoin Trust (BTC) under NYSE Arca Rule 8.201-E.” Grayscale detailed that it had entered a Transfer Agency and Service Agreement with BNY Mellon, according to a filing shared by Bloomberg ETF analyst James Seyffart. The bank will act as the agent for its Grayscale Bitcoin Trust (G...