Barry Silbert, CEO of Cryptocurrency Group, points to a new Bitcoin ETF. Grayscale already has a Bitcoin Trust investment product. In fact, it was the most sought after investment product on the Chicago Mercantile Exchange. Soon, Grayscale may submit a new application to the Bitcoin ETF.
Grayscale Bitcoin Fund (BTC)
Digital Currency Group CEO Barry Silbert appears eager to turn the Grayscale Bitcoin Trust into a truly exchange-backed fund. Barry Silbert, who calls for “keep following us” on social media, aims for a broader product that institutional investors can use.
ProSharesBitcoin futures ETF trading will begin on Monday after it was approved by the US Securities and Exchange Commission earlier this week.
Last month, Grayscale CEO Michael Sonnenshein announced that it is based on futures ETFHe said it would be a short-sighted decision to approve before the ETF.
According to a report by CNBC, Thursday, the company GBTCConvertible to ETF on a spot basis SECLooks ready to apply. Grayscale, which recently appointed Alerian CEO David LaValle, has indicated that it is working to fix this problem.
The first adoption of a Bitcoin (BTC) ETF in SEC history
US Securities and Exchange Commission (SEC) Dozens of requests have been rejected so far. However, I have made the decision to defer existing applications for a while. Negotiating with companies related to orders SEC Provided that several requests are reviewed and sent to him.
Galaxy DigitalAnd Ark Invest And VanEck Applications from many companies like this are currently pending approval. with first approval SECAt least half of the existing internal applications are expected to be approved. how much more do you want ETF If this happens, it will be easier for institutional investors to pump money into the markets. Bitcoin ETF Approvals will likely continue, but more important is how investment firms will respond to these products.
Since it is a listed product, more mutual funds and pension funds will have the opportunity to invest in cryptocurrencies.
