Grayscale publishes roadmap for turning its products into crypto ETFs
The company is renewing its push for a U.S. ETF but offered no specific guarantees or promises. After several attempts in previous years, Grayscale has renewed its push to release a Bitcoin exchange-traded fund on American asset markets. According to a Monday roadmap, two of its funds, GBTC and ETHE, are on the short-list to become proper ETFs. However, the company has not indicated any concrete efforts, such as filing a new request with the SEC, nor has it provided meaningful timelines for these plans.Grayscale is one of the major providers of cryptocurrency exposure in traditional....
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The new agreement further reinforces Grayscale’s commitment to converting Grayscale Bitcoin Trust into an ETF as its strategic goal. The bank of New York Mellon, America’s oldest bank, has signed an agreement with cryptocurrency asset manager Grayscale Investments to provide a set of services to its flagship Bitcoin (BTC) investment product.Grayscale officially announced Tuesday that it selected BNY Mellon as an asset servicing provider for Grayscale Bitcoin Trust (GBTC), a major digital currency investment product providing indirect exposure to Bitcoin.BNY Mellon is also expected to....
A letter to the secretary of the SEC outlines discrepancies in its rejection of Bitcoin spot ETFs and acceptance of Bitcoin futures ETFs. Grayscale Investments has fired back a the U.S. Securities and Exchange Commission (SEC) over the recent rejection of VanEck’s spot Bitcoin ETF application.The operator of the Grayscale Bitcoin Trust (GBTC) issued a letter to Secretary of the SEC, Vanessa Countryman, on Nov. 29 to argue the SEC is wrong to reject spot Bitcoin ETFs since it has now approved three Bitcoin futures ETFs, one each from VanEck, Valkyrie, and ProShares. Grayscale argues that....
The U.S. Securities and Exchange Commission (SEC) wants to facilitate tokenized exchange-traded funds (ETFs), according to chairman Jay Clayton. The agency is collaborating with other U.S. regulators to determine how to regulate different crypto products. SEC Open to Tokenization of ETFs SEC Chairman Jay Clayton talked about the commission’s approach to regulating crypto products during a panel discussion hosted by the Chamber of Digital Commerce earlier this month. The event, entitled “Two Sides of the American Coin: Innovation & Regulation of Digital Assets,” also....
In a seismic shift for the Bitcoin industry, the DC Circuit court has ruled in favor of Grayscale Investments yesterday, effectively vacating the US Securities and Exchange Commission’s (SEC) previous denial of Grayscale’s Bitcoin spot ETF proposal. The decision has set the stage for a new chapter in the long-standing saga of Bitcoin spot ETFs, […]
Bitcoin is just a “couple of points of maturation” away from getting an approved ETF in the U.S., says Grayscale CEO. The head of crypto investment giant Grayscale believes that only a “couple of maturation points” separate the United States from its first Bitcoin (BTC) exchange-traded fund (ETF).Speaking to CNBC on July 19, Michael Sonnenshein reiterated that a U.S. ETF is a matter of “not ‘if,’ but ‘when.’”Sonnenshein: “If, not when” for U.S. Bitcoin ETF Regulators currently have 13 ETF applications under consideration, and the U.S. lags behind neighboring Canada when it comes to giving....