Why Grayscale is '100% committed' to converting GBTC to an ETF
by Aislinn Keely
Quick Takes
Converting an existing traded security into an ETF is a novel approach, but Grayscale’s CEO says its track record will be an advantage with regulators and investors.
The firm says it will not file until it is satisfied that regulators are ready for such a product.
A Grayscale bitcoin ETF is coming. The crypto asset manager said in a blog post today that it is "100% committed" to converting its bitcoin trust to an exchange-traded fund (ETF).
Grayscale first attempted to convert the Grayscale Bitcoin Trust (GBTC) to an ETF in 2016. After a year of discussions with the Securities and Exchange Commission (SEC), it withdrew its application in 2017, saying it felt the regulatory environment hadn't advanced to a place where a bitcoin ETF could gain approval.
But the regulatory tide could be turning.
You Should Know
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From the Dashboard
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DeFi
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