Fun

Grayscale Investments Asks Investors to Help Convince SEC to Approve Bitcoin Spot ETF

News Feed - 2022-02-23 02:02:38

Grayscale Investments Asks Investors to Help Convince SEC to Approve Bitcoin Spot ETF


Grayscale Investments, the world’s largest digital asset manager, has launched a campaign aimed at convincing the U.S. Securities and Exchange Commission (SEC) to approve its bitcoin spot exchange-traded fund (ETF) application. Grayscale seeks to convert its $25.7 billion bitcoin trust (GBTC) to a bitcoin spot ETF. Asset Manager Campaigns to Get Bitcoin Spot ETF Approved


Grayscale Investments announced Tuesday the launch of a campaign “to educate and encourage American investors to submit comments” on its application with the SEC to convert Grayscale Bitcoin Trust (OTCQX: GBTC) to a spot bitcoin ETF. GBTC is the company’s largest investment product with $25.7 billion in assets under management.


The application was filed on Oct. 19 by NYSE Arca, the exchange that will list and trade shares of the new bitcoin ETF, if approved. On Dec. 15, the SEC designated a longer period to consider Grayscale’s application. On Feb. 4, the Commission asked the public for comments on the application.


The SEC has only approved bitcoin futures ETFs so far. The securities watchdog continues to reject bitcoin spot ETF applications.


Grayscale CEO Michael Sonnenshein commented, “American investors should have a choice in how to obtain bitcoin exposure,” emphasizing: It is clear we have reached a tipping point in the adoption of digital assets.


“Maintaining the regulatory status quo may feel like the safe option, but the reality is that failing to keep pace with change is the far riskier path for main street investors and our country,” he continued.


Grayscale has set up a dedicated campaign page to educate and inspire American investors to take action and convince the SEC to approve its application to convert GBTC to a spot bitcoin ETF.


The CEO added: The hundreds of comments already submitted on behalf of GBTC’s conversion to an ETF further demonstrates that this issue is of the utmost importance to investors. Tags in this story bitcoin etf, Bitcoin Futures ETF, Bitcoin Investment Trust, bitcoin spot etf, bitcoin trust, conversion gbtc to ETF, converting gbtc to ETF, GBTC, grayscale, Grayscale Investments, nyse arca, SEC


Do you think the SEC will soon approve a bitcoin spot ETF? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Russia’s Finance Ministry Submits Bill to Legalize Crypto Investments, Ban Payments REGULATION | 8 hours ago Report: Chinese Customs Authority Confiscates 49 Old ASIC Antminers REGULATION | 15 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleRussia’s Finance Ministry Submits Bill to Legalize Crypto Investments, Ban Payments Next articleTechnical Analysis: XRP Falls 10%, as ANC Climbs Higher Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFarmville Creator Zynga to Launch NFT Games, Says Gaming Firm"s Blockchain Lead


American social game developer Zynga has plans to launch non-fungible token (NFT) games in the near future. Zynga’s vice president of blockchain, ​​Matt Wolf, told the press that the company is looking at the cycle right now and “figuring out ... read more.Topps Plans to Auction Rare 1952 Mickey Mantle NFT Card Minted on Ethereum Binance Invests $200 Million Into the Business Magazine and Digital Publisher Forbes Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks US Inflation Jumps to 7.5%, CPI Climbs at Fastest Rate in 40 Years, Citizens See Little Wage Growth

News Feed

JPMorgan: Demand for Crypto as Payment Method Has Drastically Declined
JPMorgan: Demand for Crypto as Payment Method Has Drastically Declined Global investment bank JPMorgan is seeing little demand for crypto as a payment method. However, the bank not
Tesla investors sue Elon Musk for diverting resources, talent to xAI
Jesse Coghlan4 hours agoTesla investors sue Elon Musk for diverting resources, talent to xAIShareholders accused Tesla boss Elon Musk of “brazen disloyalty” with his xAI startup that created “billions in AI-related
Total Value Locked in Cross-Chain Defi Bridges Exceeds $22 Billion, Jumping 48% in 30 Days
Total Value Locked in Cross-Chain Defi Bridges Exceeds $22 Billion, Jumping 48% in 30 Days On October 29, the total value locked (TVL) in decentralized finance (defi) protocols is
Huge ‘Bitcoin Tram’ Ad Campaign and 20 Billboards Flood Hong Kong’s Financial District
Huge "Bitcoin Tram" Ad Campaign and 20 Billboards Flood Hong Kong"s Financial DistrictA massive Bitcoin ad campaign has launched in the heart of Hong Kong’s financial district
Solana Holds Steady At Key Support, Price Rebound Looming
Este artículo también está disponible en español. Solana (SOL) is holding firm at a critical $209 support level, as the recent bearishsurge has failed to break below this
Bitcoin Path To $85K: Analysts Say It’s Behaving ‘As Predicted’
Este artículo también está disponible en español. Crypto analysts said that Bitcoin remains on course for a massive price hike after Donald Trump reclaimed the US preside
Miami’s Mayor Considers Putting Some of City’s Treasury Reserves in Bitcoin
Miami"s Mayor Considers Putting Some of City"s Treasury Reserves in Bitcoin Miami Mayor Francis Suarez is exploring putting a percentage of his city’s trea
William Suberg11 hours agoBitcoin supply shock will send BTC price to $120K — Standard CharteredBitcoin miners will hoard BTC and drive up prices in the process, with BTC price due to tap $50,000 this year as a result.
Here’s Why Everyone Should Be Keeping an Eye on Geopoly in 2022
Here’s Why Everyone Should Be Keeping an Eye on Geopoly in 2022 press release PRESS RELEASE. The popularity surrounding both the metaverse as well as different games has skyrocket
Bitcoin miner Marathon increases 2024 hash rate target to 50 EH/s
Brayden Lindrea6 hours agoBitcoin miner Marathon increases 2024 hash rate target to 50 EH/sIf Marathon reaches its 50 EH/s target, it would mark more than a 100% increase in the firm’s hash rate since the start of 2024
Cointelegraph Research11 hours agoBitcoin price shrugs off bears, but mining stocks take a beating: ReportThe crypto mining sector is becoming increasingly competitive, with hash rate showing no sign of slowing down, and
Bitcoin’s Defense of Major Support May Fuel Price Bounce to $9,600
View Bitcoin’s repeated defense of the 200-day average support indicates an end of the pullback from $10,350 and scope for a bounce to the 100-day average at $9,601. A UTC close above that level and a further rise