Bloomberg ETF analyst James Seyffart posted an article stating that Grayscale has submitted a new S-3/prospectus for the conversion of GBTC to ETF. The biggest update is the plan to change the code "GBTC" to "BTC", confirming that Grayscale is negotiating with the SEC and updating/changing its product documentation after discussing and receiving feedback from the SEC.

On November 23rd, Bloomberg ETF analyst James Seyffart posted that Grayscale has submitted a new S-3/prospectus for the conversion of GBTC to ETF, and the biggest update is the plan to change the stock code from "GBTC" to "BTC". This confirms that Grayscale is negotiating with the SEC and updating/changing its product documents after discussing and receiving feedback from the SEC.

According to Coinglass data on November 23rd, the premium rate of Grayscale GBTC has narrowed to 9.78%, while the premium rate of ETH trust is 13.73%. In addition, the premium rate of ETC trust is 32.45%, the premium rate of LTC trust is 8.07%, and the premium rate of BCH trust is 12.89%.

Bloomberg analyst James Seyffart stated on X platform that Grayscale has submitted a new S-3/prospectus for the conversion of GBTC, and the biggest update is the plan to change the code of GBTC to BTC, which is in line with analyst expectations.

According to a report by Grayscale Research, the election of liberalist Javier Milei as the President of Argentina could potentially lead to a chain reaction in the traditional finance and cryptocurrency fields. Grayscale Research stated: "His presidential term may pave the way for greater acceptance and integration of cryptocurrencies in the Argentine economy, providing potential solutions to long-standing issues of inflation and financial instability."

According to Coinglass data, on November 20th, the Grayscale GBTC negative premium rate has narrowed to 10.11%, hitting a new low since August 12th, 2021.

ARK Invest's holdings data shows that as of the time of writing, the ARK Invest ETF has reduced its holdings of 425,467 shares of GBTC since November, with a value of approximately $12.33 million at current prices. As of Friday's close, GBTC closed at $28.99. It is worth noting that since ARK Invest increased its holdings by 11,249 shares of GBTC on September 5, it has not increased its holdings of GBTC.

Cathie Wood, CEO of ARK Invest, said in an interview with CNBC that once a Bitcoin spot ETF is approved, Grayscale GBTC will lose its advantage in this field.

Bloomberg analyst James Seyffart stated on X platform that the submission of Grayscale Ethereum Futures' 19b-4 has been delayed, which is not surprising, as they also separately submitted an application to convert ETHE to ETF.

According to Coinglass data, the current total value of Grayscale's holdings is approximately $29.492 billion, with a negative premium rate of 10.35% for Grayscale Bitcoin Trust Fund (GBTC) and a premium rate of 13.94% for ETH Trust. In addition, the trading price of Grayscale's Chainlink Trust (GLINK) is $49, which is a 250% premium over the spot price of LINK. Solana Trust (GSOL) is priced at $202, which is an 869% premium over SOL, while its Filecoin (FIL) product has a premium of 901% and its Decentraland (MANA) product has a premium of 308%.