Institutional asset manager Grayscale has reportedly disclosed details of its intention of turning its GBTC Trust into an exchange-traded fund (ETF), which depends on the US SEC’s Bitcoin comfort level.

Specifically, Grayscale communications director Jennifer Rosenthal reportedly took to Twitter to share that the plan for introducing an ETF will be dependent on when “the SEC has formally expressed their requisite comfort with the underlying Bitcoin market.” 

The introduction would reportedly see the asset manager’s Grayscale Bitcoin Trust (GBTC) – initially listed in 2013 – turning into an ETF.

“Once there’s official and verifiable evidence of the SEC’s comfort with the underlying Bitcoin market — likely in the form of a Bitcoin Futures ETF being deemed effective — the NYSE Arca will file a document called the 19b-4 to convert $GBTC into an ETF” Rosenthal further remarked. 

The update reportedly surfaced not long after ProShares’ disclosure of its Bitcoin (BTC) futures-linked ETF will commence trading on the New York Stock Exchange under the ticker BITO beginning Oct. 19.

Submitted registration with the US SEC reportedly revealed the regulator has also given the go-ahead to shares of Valkyrie’s Bitcoin Strategy ETF to be listed on the Nasdaq, with possibilities for further acceptance in the future – with the agency having numerous crypto ETF applications under review at the moment. 

Grayscale additionally included three digital coins available for trading via its suite of crypto investment trust offerings.

The company reportedly shared that its Grayscale Zcash Trust, Grayscale Stellar Lumens Trust, and Grayscale Horizen Trust were now listed on the OTCQX Best Market under the ticker symbols ZCSH, GXLM and HZEN, respectively.