Crypto asset manager Grayscale Investments plans to apply to convert the world's largest bitcoin fund into a spot exchange traded fund (ETF) early this week, CNBC reported, citing people familiar with the matter. Grayscale Bitcoin Trust (GBTC), which had $38.7 billion in assets under management as of Friday, will have 75 days to be reviewed by the SEC once the application is filed.

Crypto asset manager Grayscale Investments plans to apply to convert the world's largest bitcoin fund into a spot exchange traded fund (ETF) early this week, CNBC reported, citing people familiar with the matter. Grayscale Bitcoin Trust (GBTC), which had $38.7 billion in assets under management as of Friday, will have 75 days to be reviewed by the SEC once the application is filed.