Some investors are always Ethereum-first. It had traded at a substantial . Grayscale Bitcoin Trust (GBTC) is in the news Tuesday following a filing with the SEC to become a Bitcoin (BTC) Spot ETF.More From InvestorPlace Stock Prodigy Who Found NIO at $2 Says Buy THIS . Grayscale Bitcoin Trust launched in 2013, received public quotation in May 2015, and became an SEC reporting company in January 2020. Grayscale Bitcoin Trust meanwhile has filed to convert to a Bitcoin . BNY Mellon will provide GBTC with fund accounting and administration starting October 1, 2021, and facilitate the trust's future intention to become an exchange-traded fund (ETF). The CME can only offer bitcoin and ether products, at least for now, so Grayscale's other potential ETFs may not face the same type of competition being felt by GBTC and ETHE if the SEC opens . In October 2021, Grayscale announced that NYSE Arca filed Form 19b-4 with the Securities and Exchange Commission (SEC) to convert our flagship product, Grayscale Bitcoin Trust (OTCQX: GBTC), into a Bitcoin Spot ETF. Grayscale first submitted an application for a Bitcoin ETF in 2016 and spent the better part of 2017 in conversations with the SEC. The Solana Trust has an . As previously reported, the Grayscale BTC Trust cut the price of the asset by 20%, and the company is now trying to switch to a Bitcoin ETF. As we know, Grayscale is a highly popular asset manager firm, which is known for its Bitcoin trust (GBTC), that allows people to invest . The operator of the Grayscale Bitcoin Trust (GBTC) sent a letter to the SEC's secretary Vanessa Countryman on Nov. 29, arguing that the SEC was wrong to reject the spot bitcoin ETFs because it currently has three bitcoin futures -ETFs approved . Grayscale Investments, the world's largest crypto currency asset manager announced today that the NYSE Arca has filed to convert the firm's flagship product, the Grayscale Bitcoin Trust (GBTC) into a Bitcoin Spot ETF. Grayscale applied with the SEC to convert its Grayscale Bitcoin Trust (GBTC), the largest bitcoin fund in the world, into an exchange-traded fund. Grayscale is the biggest global digital currency asset manager, and GBTC is the largest bitcoin trust worldwide, holding roughly 3.44% of all bitcoin currently in circulation and with approximately $40 billion in assets under management. Grayscale first filed to convert GBTC in 2017. For example, Grayscale's Ethereum Trust (ETHE) is witnessing more institutional investors flocking to Grayscale's Bitcoin Trust (GBTC). Similar products were set to come to market, with Nasdaq Inc having approved the listing of the Valkyrie Bitcoin Strategy ETF on Friday, while Grayscale, the world's largest digital currency manager, said it plans to convert its Grayscale Bitcoin Trust into a spot bitcoin ETF. GBTC currently represents roughly 3.4% of outstanding bitcoin, according to the Davis Polk & Wardwell letter. The operator of the Grayscale Bitcoin Trust (GBTC) sent a letter to the SEC's secretary Vanessa Countryman on Nov. 29, arguing that the SEC was wrong to reject the spot bitcoin ETFs because it currently has three bitcoin futures -ETFs approved . If allowed, the Grayscale Bitcoin ETF would be the largest Bitcoin-linked fund with nearly $40 . The letter comes months after Grayscale filed to convert its Grayscale Bitcoin Trust (GBTC), the investment group's grantor trust, into an ETF, again, under the ticker BTC. The Grayscale Bitcoin Trust is a traditional investment vehicle with shares titled in the investors name, providing a familiar structure for financial and tax advisors and easy transferability to . Institutional investment giant Grayscale is reportedly considering converting its Bitcoin Trust into a physically settled exchange-traded fund (ETF).. On Oct. 17, Barry Silbert, the CEO of . The Grayscale ETF would trade on the NYSE, which is required to file Form 19b-4 to list a new ETF. The Grayscale Bitcoin Trust (GBTC) continuously traded at a discount since February. The Grayscale Bitcoin Trust was founded in 2013 and currently has $38.7 billion worth of assets in its management. The filing comes on the first day the ProShares Bitcoin Futures ETF, the first Bitcoin ETF in the U.S., began trading. Plus500. There still isn't a Bitcoin exchange traded fund in the U.S., but crypto market observers and ETF issuers are growing optimistic on that front. Summary. It currently trades at a 16.62% discount. Grayscale shares have been trading at a discount of close to -17%, indicating that things are not looking good on the spot ETF front.
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