Bitcoin

Grayscale Bitcoin Trust

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<p>Grayscale Investments has sent <a href="https://twitter.com/NateGeraci/status/1763266337365778555" rel="noopener noreferrer nofollow">a letter</a> to the Securities and Exchange Commission (SEC) to make a case for approving options on Grayscale's Bitcoin Trust (GBTC).</p>
<p>Nate Geraci, President of ETF Store, speculated about the possibility of a looming lawsuit since Grayscale's letter to the SEC emphasized what they deemed as "unfair discrimination" against shareholders.&nbsp;</p>
<h2 id="grayscale-s-push-for-equal-treatment">Grayscale's push for equal treatment</h2>
<p><a href="https://u.today/grayscale-dumps-214-billion-in-bitcoin-btc-post-etf-approval-details" rel="noopener noreferrer nofollow">Grayscale</a> has been lobbying the SEC to extend the options approval to its spot bitcoin ETF, arguing for a level playing field.&nbsp;</p>
<p>Michael Sonnenshein, CEO of Grayscale, articulated in the letter that denying GBTC the ability to offer options would disadvantage its investors and hinder the product's appeal to potential ones.&nbsp;</p>
<p>Notably, the SEC has previously approved options trading for ETFs tied to bitcoin futures, setting a precedent that Grayscale believes should be applied to their product as well.&nbsp;</p>
<p>The crypto asset manager is advocating for GBTC's options to facilitate better price discovery, market navigation, and hedging strategies for investors.</p>
<h2 id="the-path-forward">The path forward&nbsp;</h2>
<p>Sonnenshein has been outspoken regarding the necessity for establishing a substantial market for options on spot <a href="https://u.today/blackrocks-bitcoin-etf-to-leave-gold-in-dust-with-10-billion-milestone" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>.</p>
<p>He points out that options for bitcoin futures ETFs became available one day after trading commenced, but spot Bitcoin ETFs are lagging behind due to the intricacies involved in regulatory approvals.</p>
<p>The disparity in treatment between futures and spot bitcoin ETFs has been a point of contention, with Sonnenshein emphasizing the benefits of options for all investors.&nbsp;</p>

Grayscale May Sue SEC Over GBTC Options

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