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Grayscale Will Continue to Seek Regulatory Approval for a Bitcoin Exchange-Traded Fund
Summary: Grayscale, the world’s largest digital asset manager, says it will continue to seek regulatory approval for a bitcoin exchange-traded fund (ETF) backed by actual units of the cryptocurrency, even as U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler says he would prefer to approve an ETF backed by bitcoin futures contracts. Some analysts predict ...
Grayscale, the world’s largest digital asset manager, says it will continue to seek regulatory approval for a bitcoin exchange-traded fund (ETF) backed by actual units of the cryptocurrency, even as U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler says he would prefer to approve an ETF backed by bitcoin futures contracts.
Some analysts predict that the Grayscale Bitcoin Trust (GBTC), whose shares already trade in public stock markets, has no chance of winning approval anytime soon for its current plan to convert the $30 billion trust into an ETF backed by the cryptocurrency.
Grayscale is still banking on the possibility that the SEC is open to a spot bitcoin ETF. “We are not sitting back with our feet up,” David LaValle, Grayscale’s head of ETFs, said in an interview. “Gensler’s comments have not changed our business strategy, and we will utilize and leverage an ETF wrapper to bring other products to market such as traditional equity-based ETF.”
By Amy Liu
Tags: Bitcoin ETF,Grayscale,SEC
Link: Grayscale Will Continue to Seek Regulatory Approval for a Bitcoin Exchange-Traded Fund [Copy]
