Grayscale Investments filed an appeal with the US Securities and Exchange Commission in the form of a registration statement on Form S-3 for listing the shares of Grayscale Bitcoin Trust (BTC). This will fall under the Securities Act of 1933.
The commonly adopted practice is for issuers to file a registration on Form S-1 with regard to their first public offering of equity securities listed under the Securities Act. Provision was made for GBTC to utilize Form S-3 because it is a short filing that refers to the SEC disclosures and reports. This is due to its shares having been listed under the Securities Exchange Act of 1934 and living up to the necessities of the form.
Prior to GBTC transforming into an ETF and releasing shares in a registered way in accordance with Form S-3, it is necessary to receive consent for the NYSE Arca’s 19b-4 application and the Form S-3 stamped viable by the SEC.
It is necessary to note that GBTC is all prepared to convert to an ETF once it receives the proper consent. Keeping GBTC’s investors in mind, Grayscale will function in complete tandem with the SEC.
GBTC will refrain from coming to any sort of conclusion regarding the outcome. The company will also not indulge in the offering of its shares and will await consent.
Grayscale Bitcoin Trust (GBTC), on its part, has filed an appeal in the form of a registration statement with the SEC with regards to the offering. The Trust suggests that one should go through the prospectus in the registration statement before investing. Also included are the various other attached documents that GBTC has filed with the SEC. The documents are accessible on EDGAR on the SEC’s official website.
Investments carried out in terms of digital assets are basically speculative and come with great risk factors. This could be in the form of part or complete loss of investments made.
The information should not be looked upon as anything suggestive. It is only to create awareness.