American financial lawyer Scott Johnsson posted on the (The registration statement) is still under review and there’s no real hard deadline for that process. But I think that’s just a formality.”
User X asked, "Do you think Grayscale will have any advantages in converting GBTC and issuing ETFs? Will the negative premium of GBTC disappear instantly?"
Johnsson replied: “S-3 is the abbreviated version of S-1, so GBTC has an advantage in this regard, but I have doubts that the SEC will approve multiple ETFs at the same time. The GBTC negative premium should disappear when the ETF is launched.”