Grayscale Executives Met with SEC Officials to Discuss Spot Bitcoin ETF Issues

Reported by Cointelegraph, Executives from Grayscale have met with the U.S. SEC to discuss details of its Bitcoin trust, which the firm wants to convert to a spot Bitcoin ETF.

A Memo disclosed Grayscale CEO Michael Sonnenshein, legal chief Craig Salm, ETF Head Dave LaValle and four other executives met with the SEC's division of trading and markets.

The memo said discussions “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 (GBTC), facilitating the issuance and redemption of shares and maintaining shareholder accounts.