Grayscale Investments’ bid to register its Bitcoin Trust as a Securities and Exchange Commission (SEC) reporting company has succeeded.

The trust became the first publicly traded bitcoin investment vehicle on an over-the-counter market in May 2015, and Grayscale filed a Form 10 to the SEC in November, opening the trust up to investors currently restricted from participating in non-regulated vehicles. The Form 10 filing was automatically deemed effective 60 days after it was filed. 

The trust’s shares are now registered under the Exchange Act of 1934, making the Grayscale Bitcoin Trust the first cryptocurrency investment vehicle to become a reporting company. The trust now has to publicly file its quarterly and annual reports as 10-Qs and 10-Ks with the SEC and publish updates on unscheduled material events and corporate changes. 

The new status also reduces the statutory holding period for accredited investors from 12 months to six months. 

Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.