Bitcoin

Grayscale Bitcoin Trust

<ul class="news-points"> 
 <li>Grayscale Investments urges the SEC to approve its Bitcoin ETF application.</li> 
 <li>The company’s legal team claims that the SEC has no grounds to reject Grayscale’s request for GBTC conversion.</li> 
 <li>The team reiterates that there is no rationale to differentiate between Bitcoin futures ETPs and spot Bitcoin ETPs.</li> 
</ul> 
Grayscale Investments <a href="https://grayscale.com/new-comment-letter-from-grayscales-legal-team/" target="_blank" rel="nofollow">reportedly</a> urged the Securities and Exchange Commission (SEC) to approve the company’s application for the conversion of Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF), claiming that the regulators hold “no grounds” to reject the request. In an official letter, Grayscale’s legal team asserted that GBTC is ready to operate as a Bitcoin spot ETF upon approval from the SEC. 
Earlier today, Grayscale took to X (Twitter) to share the letter, and highlight that the SEC’s decision regarding its application has been pending for almost three times the permitted period as per the Exchange Act. The letter spotlighted that there is no identifiable rationale that could distinguish between Bitcoin futures exchange-traded products (ETPs) and spot Bitcoin ETPs, adding that if there existed such a difference, “it would have…
The post <a rel="nofollow" href="https://coinedition.com/grayscale-urges-sec-to-approve-gbtc-conversion-to-bitcoin-etfs/">Grayscale Urges SEC to Approve GBTC Conversion to Bitcoin ETFs</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Grayscale Urges SEC to Approve GBTC Conversion to Bitcoin ETFs

Coin Edition

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