Grayscale Partners With Jane Street, Virtu Financial For Pending Spot Bitcoin ETF Today

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  • Grayscale Investments signed Jane Street and Virtu Financial as authorized participants for its pending spot bitcoin ETF.
  • Grayscale’s application to convert its bitcoin fund into an ETF has a deadline of July 6.
  • Should the SEC deny, or further delay Grayscales application, the fund is prepared to sue the SEC.

Grayscale Investments announced it will work with market-makers Jane Street and Virtu Financial as authorized participants for its spot bitcoin exchange-traded-fund (ETF), if it is approved.

Should the Securities and Exchange Commission (SEC) approve Grayscale’s application to convert its Bitcoin Trust ($GBTC) into an ETF, then both of the market-makers will be capable of creating and redeeming shares of the ETF. However, this intended partnership hinges on the SEC coming to a decision regarding Grayscale’s application, which currently has a deadline of July 6, 2022.

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