SEC negotiating GBTC conversion.

Sona59

According to a report from CoinDesk on November 9, Grayscale, the cryptocurrency asset management company, has begun discussions with regulatory authorities about converting its trust product GBTC into a spot Bitcoin ETF, as market experts eagerly await the decision of the U.S. Securities and Exchange Commission (SEC).

Insiders revealed that since winning the lawsuit against the SEC on August 29, Grayscale has been in contact with the SEC's Trading and Markets Division and the company's Financial Department.

As the possibility of approving a Bitcoin ETF increases, optimism in the crypto market is also growing, with the price of Bitcoin rising more than 30% in the past three months. The significant rise in Bitcoin has also boosted the price activity of other major crypto assets.

In the past month, Solana (SOL) has surged an astonishing 93% during its scaling process, while Ripple (XRP) and Ethereum (ETH) have grown by 36% and 20%, respectively.

While many industry insiders believe that approval will mark the beginning of the next bull market, other analysts do not see this upward trend as sustainable.

Samiksha

Exchange is a kind of functionality, why is there still a need for negotiation?

Iti9

Negotiations that are expected are unavoidable in such cases.