The other day, Fidelity also submitted its Form 8-A to the SEC shortly before the ETF decision.

This filing is a registration that allows ETF issuers to trade on the stock exchange once the product is approved.

Spot Bitcoin ETF filings by giants such as BlackRock and Fidelity have given cryptocurrency companies renewed hope for ETFs over the past summer.

Grayscale accelerated its efforts to convert its GBTC product into a spot Bitcoin ETF following a favorable court ruling last August.

In a statement, a Grayscale spokesperson said:

"Grayscale continues to work in cooperation with the SEC to list GBTC as a spot Bitcoin ETF on the NYSE."

The cryptocurrency industry is waiting for a decision from the SEC. According to Fox reporter Eleanor Terrett the other day, the SEC plans to announce its decision on Friday.