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Grayscale Investments, who hold roughly USD 2.7 billion in assets, stated on Tuesday they have  filed with the Securities and Exchange Commission a registration statement on Form 10 for its bitcoin fund, a move aimed at broadening its investor base.

The fund is called  Grayscale Bitcoin Trust has assets of about USD 2.175 billion, the company said, and it trades on OTCQX, an over-the-counter marketplace.

We filed a FORM 10 and the SEC can of course have comments, or questions, or they can ask us to expand on certain aspects of the document, but if they do not, it’s typically goes effective after 60 days from the time is filed said    Michael Sonnenshein, Grayscale managing director

In regards for the reason for doing this Sonnenshein said:

This would open up GBTC to a larger pool of investors who would otherwise not be allowed to trade or invest in products that are not SEC-reporting