Grayscale applies to SEC to register new GBTC advertisement for retail investors

Grayscale recently submitted a new registration document to the US SEC and plans to expand its GBTC advertising activities for retail investors. The ad text reads: GBTC is the industry’s largest Bitcoin investment vehicle, allowing investors to gain exposure to Bitcoin within a familiar investment structure to benefit from its potential. It is reported that the SEC recently met with Grayscale to discuss GBTC’s potential ETF conversion; the District of Columbia Circuit Court of Appeals previously urged the SEC to reconsider Grayscale’s application to convert its flagship GBTC fund into a spot Bitcoin ETF. According to previous news, Google is about to update its encryption advertising policy, which is expected to take effect in the same month as the spot Bitcoin ETF is approved in the United States. While it’s unclear whether ETFs meet Google’s definition of a “cryptocurrency trust,” the policy update will allow Google-certified advertisers to promote these products as long as they meet the company’s requirements.