According to BlockBeats, on January 2, Bloomberg ETF analyst Eric Balchunas interpreted Grayscale's newly submitted prospectus, which clearly stated that only cash would be accepted, but still did not specify authorized participants (APs), leaving blanks where names should be filled in. "Not sure why this is the case, because the SEC wants to see this, and they seem quite confident about having authorized participants. In addition, the section on fees (as far as I can see) is not mentioned either. This is also an important unresolved issue."