September 28, 2017 / 4:11 AM / 10 months ago

Grayscale says NYSE Arca withdraws application to list bitcoin Trust

Sept 27 (Reuters) - Grayscale Investments LLC, which launched the Bitcoin Investment Trust in 2013, said NYSE Arca withdrew the application pending before the Securities and Exchange Commission to list the Trust shares.

SEC denied two similar “Rule 19b-4” applications in March to bring to market a first-of-its-kind product tracking bitcoin, the digital currency.

Grayscale said it intends to continue its dialogue with the SEC.

The withdrawal will not affect the Trust’s quotation on the OTCQX, it said.

Bitcoin can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government.

NYSE was not immediately reachable for comment outside regular business hours. (Reporting by Kanishka Singh in Bengaluru; Editing by Gopakumar Warrier)

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