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Grayscale Bitcoin Trust becomes SEC reporting company

Wed, 22 Jan 2020, 05:59 am UTC

Crypto asset management firm Grayscale Investments has announced that Grayscale Bitcoin Trust has attained the status of an SEC reporting company.

In Nov., the company had filed a registration statement with the Securities and Exchange Commission (SEC) via Form-10 for its Bitcoin Trust. It said at the time that it had done the filing voluntarily in an attempt to attract more investors that are on the fence about the crypto market.

In its recent announcement, Grayscale said that the Trust’s shares are now registered with the SEC.

“We’re pleased to share that Grayscale Bitcoin Trust’s Registration Statement on Form 10 is now effective. This means that Grayscale Bitcoin Trust is the first digital currency investment vehicle to attain the status of an SEC reporting company,” it said.

The Trust is solely and passively invested in bitcoin, enabling investors to gain exposure to the leading digital currency in the form of a security while avoiding the challenges of buying, storing, and safekeeping bitcoin directly.

According to a press release, the statutory holding period of shares purchased through the private placement will be reduced from 12 months to 6 months for accredited investors. Grayscale said that the Trust will now file its quarterly and annual reports as well as audited financial statements as 10-Qs and 10-Ks with the SEC, along with current reports on Form 8-K, in addition to complying with all other obligations under the Exchange Act.

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