Grayscale and VanEck register for spot Bitcoin ETF shares - Invest in web 3.0 to take advantage of financial services.
Grayscale and VanEck latest to register with exchanges for spot Bitcoin ETF shares

Investing in Web 3.0: Exchange-Traded Funds

As the United States Securities and Exchange Commission (SEC) awaits a decision, asset managers Grayscale Investments and VanEck have filed notices with the financial regulator to register shares of a spot Bitcoin (BTC) exchange-traded fund (ETF) on stock exchanges. On Jan. 4, the VanEck Bitcoin Trust and Grayscale Bitcoin Trust used Form 8-A to register their shares on the Cboe BZX Exchange and New York Stock Exchange Arca, respectively. This filing follows the Fidelity Wise Origin Bitcoin Fund’s registration on Jan. 3.

The SEC is currently considering multiple applications for spot BTC investment vehicles, and many in the space anticipate a decision within the week. Some have speculated that the SEC could approve multiple listings before the Jan. 10 deadline for a spot BTC ETF offering from ARK Invest and 21Shares.

The Form 8-A filings are a step forward in registering ETFs, but do not necessarily guarantee approval from the SEC. Bloomberg ETF analyst James Seyffart advised on X (formerly Twitter) that people should look out for approvals with a 19B-4 Form and completed S-1 document.

Investing in Web 3.0

Grayscale chief legal officer Craig Salm and CEO Michael Sonnenshein recently posted about Web 3.0 in the wake of speculation that the SEC would soon make a decision. This has been a much-anticipated decision, as the SEC has not yet approved a spot BTC exchange-traded product for listing and trading on U.S.-based exchanges.

The likes of BlackRock, Bitwise, Fidelity, Valkyrie, WisdomTree, and Invesco Galaxy have all applied for spot Bitcoin and Ether (ETH) ETFs with the SEC. In contrast, Canadian regulators approved a spot Bitcoin ETF from Purpose Investments in 2021.

Crypto traders in the United States have had access to investment vehicles tied to BTC futures since 2021, when the SEC approved an offering from ProShares. As such, investors are now looking towards Web 3.0 applications and investment opportunities to get exposure to the crypto space.

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