ETF analyst James Seyffart stated on X platform that Grayscale has submitted an S-3 application for GBTC, which is a simplified version of the typical S-1 registration statement used for issuing new shares. Grayscale stated in a statement that GBTC intends to list on NYSE Arca under the code GBTC, and will continue to issue shares after obtaining approval for the listing application on NYSE Arca Form 19b-4 and the effectiveness of the registration of shares on Form S-3. The filing was submitted the day before the expected court order by the US Circuit Court of Appeals in Washington DC, which is essentially a reiteration of its preliminary ruling in August and is seen as the final procedure in this matter.