2 years ago
Grayscale Investments, the world’s largest integer plus manager, has launched a run aimed astatine convincing the U.S. Securities and Exchange Commission (SEC) to o.k. its bitcoin spot exchange-traded money (ETF) application. Grayscale seeks to person its $25.7 cardinal bitcoin spot (GBTC) to a bitcoin spot ETF.
Asset Manager Campaigns to Get Bitcoin Spot ETF Approved
Grayscale Investments announced Tuesday the motorboat of a run “to amended and promote American investors to taxable comments” connected its exertion with the SEC to person Grayscale Bitcoin Trust (OTCQX: GBTC) to a spot bitcoin ETF. GBTC is the company’s largest concern merchandise with $25.7 cardinal successful assets nether management.
The exertion was filed connected Oct. 19 by NYSE Arca, the speech that volition database and commercialized shares of the caller bitcoin ETF, if approved. On Dec. 15, the SEC designated a longer play to see Grayscale’s application. On Feb. 4, the Commission asked the nationalist for comments connected the application.
The SEC has lone approved bitcoin futures ETFs truthful far. The securities watchdog continues to cull bitcoin spot ETF applications.
Grayscale CEO Michael Sonnenshein commented, “American investors should person a prime successful however to get bitcoin exposure,” emphasizing:
It is wide we person reached a tipping constituent successful the adoption of integer assets.
“Maintaining the regulatory presumption quo whitethorn consciousness similar the harmless option, but the world is that failing to support gait with alteration is the acold riskier way for main thoroughfare investors and our country,” helium continued.
Grayscale has acceptable up a dedicated run leafage to amended and animate American investors to instrumentality enactment and person the SEC to o.k. its exertion to person GBTC to a spot bitcoin ETF.
The CEO added:
The hundreds of comments already submitted connected behalf of GBTC’s conversion to an ETF further demonstrates that this contented is of the utmost value to investors.
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Do you deliberation the SEC volition soon o.k. a bitcoin spot ETF? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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