Discussions between the U.S. securities regulator and asset managers hoping to list bitcoin exchange-traded funds (ETFs) have advanced to key technical details, in a sign the agency may soon approve the products, industry executives said. Thirteen firms including Grayscale Investments, BlackRock, Invesco, and ARK Investments, have pending applications with the Securities and Exchange Commission (SEC) for ETFs that track the price of bitcoin. But after a court in August ruled the SEC was wrong to reject Grayscale's application to convert its bitcoin trust into an ETF, the SEC has been engaging with issuers on substantive details, some of which are usually discussed near the end of an ETF application process, according to half a dozen industry executives and SEC public memos.
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