Barry Silbert on Converting GBTC Into ETF: "Stay Tuned"
Barry Silbert, CEO of Digital Currency Group, urged his followers to “stay tuned” in response to a tweet about potentially converting its Grayscale Bitcoin Trust into a physically-backed exchange-traded fund.
ProSharess Bitcoin futures ETF is set to start trading on Monday after it was greenlit by the U.S. Securities and Exchange Commission earlier this week.
However, the regulator has so far shot down all the proposals to launch an ETF that will not track the price of Bitcoin directly due to concerns about investor protection. Instead, investors will have exposure to the Chicago Mercantile Exchanges futures contracts.
Joe Orsini, director of research at Eaglebrook Advisors, has outlined some risks associated with a futures-based ETF in his recent thread, claiming that it will be applicable for intra-day trading instead of long-term investing.
Last month, Grayscale CEO Michael Sonnenshein opined that approving a futures-based ETF before a spot-based one would be a “short-sighted” decision.
According to a Thursday report by CNBC, the company is very close to filing with the SEC in order to convert GBTC into a spot-based ETF.
As reported by U.Today, Grayscale hired ex-Alerian CEO David LaValle to work on such a plan this September.
The leading cryptocurrency asset manager confirmed that it was intending to convert its Bitcoin trust into an ETF in early April.
For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.
Minnesota’s Congressman Blasts Gary Gensler For Declining Much-Requested Bitcoin Spot ETF
U.S. House of Rep member puts Gary Gensler on blast over Bitcoin Spot ETF saga.
Grayscale launches Solana (SOL) trust after 11,000% rally in past year
The new investment vehicle follows similar Grayscale products that offer exposure to single-assets, including Bitcoin, Ethereum, Chainlink.
The Reasons Behind Digital Currency Group Picking Connecticut as New Headquarters
Digital Currency Group and its subsidiaries, including Grayscale Investments, have decided to move from New York City to Connecticut.
New Grayscale Solana Trust Set to Offer Exposure to SOL for More Investors
The major digital asset investment firm Grayscale has launched a new solana (SOL)-backed regulated investment product in the US, opening up exposure to the smart contract and decentralized finance (DeFi) space for more investors.
Crypto Debit Card: Blockchain Expert Explains Why Consumers Need to be Careful When Opening an Accou
- Token conversion
- Exchange rate conversion
- Calculation for foreign exchange purchasing
- Please enter the number
- Current Currency
- purchasing price
- Amount Required