Grayscale Investments plans on filing an application to convert the world's biggest bitcoin fund into a spot ETF early next week, according to a person with knowledge of the matter.

The investment firm had intended to file its application to the Securities and Exchange Commission as soon as the agency allowed efforts by competitors for a futures-based bitcoin ETF, said the person.

It withdrew the application in October of that year after the SEC indicated that it wasn't yet comfortable with the bitcoin market.