2 years ago
Summary:
- Robinhood has listed the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE)
- Yesterday, Grayscale filed Form 10 registration statements with the SEC for Grayscale Horizen Trust, Grayscale Stellar Lumens Trust, and Grayscale Zcash Trust
- Grayscale is inactive optimistic that the SEC volition o.k. the conversion of its Grayscale Bitcoin Trust to a spot Bitcoin ETF
The fashionable trading level of Robinhood has listed the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE). News of the 2 concern products being disposable connected the fashionable trading level was made nationalist via Twitter by the Founder and CEO of Digital Currency Group, Barry Silbert.
Finally! You tin present commercialized Grayscale Bitcoin Trust and Grayscale Ethereum Trust connected Robinhood$GBTC $ETHE https://t.co/MzOJxvI7GG
— Barry Silbert (@BarrySilbert) May 6, 2022
Grayscale Files Form 10 Registration for Horizen, Stellar Lumens, and ZCash Trusts
The availability of GBTC and ETHE connected Robinhood comes little than 24-hours aft Grayscale announced that it had publically filed Registration Statements connected Form 10 with the US Securities and Exchange Commission for the Grayscale Horizen Trust, Grayscale Stellar Lumens Trust, and Grayscale Zcash Trust.
According to Grayscale, the filings were voluntary and taxable to SEC review. Additionally, ‘the products are concern products that let investors to much efficaciously instrumentality strategical and tactical plus allocations that incorporated integer assets by utilizing the products’ share.’
Grayscale Optimistic that it Will Convert its GBTC into a Spot Bitcoin ETF
At the aforesaid time, Grayscale has a pending exertion astatine the SEC to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF. The company’s Chief Legal Officer, Craig Salm, precocious answered questions astir the conversion process, wherever helium explained however it would happen. He said:
GBTC stock prices volition apt determination to commercialized successful enactment with NAV. Then, the shares would beryllium uplisted from OTCQX to NYSE Arca. Grayscale and our partners would grip this down the scenes.
Importantly, if you are an capitalist that’s already holding shares of GBTC you wouldn’t person to bash anything. None of this should inherently correspond a taxable lawsuit for shareholders either.
Mr. Salm went connected to adhd that determination is inactive a model to taxable comments to the SEC successful enactment of the Grayscale Bitcoin ETF application. Over 2,600 comments person been submitted, and Grayscale hopes that much investors volition see emailing their thoughts astir the ETF to the SEC.
English (US) 