The U.S. Securities and Exchange Commission (SEC) has reportedly opened talks with Grayscale Investments, a digital asset management firm, about its proposed spot bitcoin exchange-traded fund (ETF). A spot bitcoin ETF would track the price of bitcoin in real time, unlike futures-based bitcoin ETFs, which track the price of bitcoin futures contracts. The SEC has been hesitant to approve spot bitcoin ETFs, citing concerns about market manipulation and potential investor harm. However, the SEC's recent talks with Grayscale suggest that the agency may be more open to approving a spot bitcoin ETF in the future.