Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Grayscale, the world’s largest digital asset manager, is continuing its efforts to gain approval for a spot <a href="https://en.coin-turk.com/kripto-para-analisti-incelemesi-bitcoin-ve-solana-hakkinda-yorumlar/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> ETF. On Tuesday, November 21, Grayscale announced that it has begun discussions with the SEC and signed a Transfer Agency and Service Agreement with BNY Mellon for the spot Bitcoin ETF.
<h2 style="text-align: justify" id="grayscale-and-sec-meeting">Grayscale and SEC Meeting</h2>
A statement from the SEC on November 20 revealed that Grayscale executives, including CEO Michael Sonnenshein, have been in communication with the SEC’s Division of Trading and Markets. The focus of the meeting was the proposed rule change by NYSE Arca, Inc. to list and trade shares of Grayscale Bitcoin Trust (<a href="https://en.coin-turk.com/bitcoin-etf-news-triggers-price-surge-but-blackrock-denies-approval/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) under NYSE Arca Rule 8.201-E.
According to Bloomberg ETF <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">analyst</a> James Seyffart, a filing shared in the statement disclosed the signing of a Transfer Agency and Service Agreement with BNY Mellon. BNY Mellon will act as the agent for Grayscale Bitcoin Trust (GBTC), monitoring the issuance and redemption of shares and conducting audits of shareholder accounts.
Seyffart stated in a Twitter post on November 21 that the Division of Trading and Markets is responsible for approving or denying Form 19b-4s.
He also added that the agreement with BNY Mellon likely came as a result of a requirement and does not indicate an imminent conversion of GBTC. The meeting with the SEC took place within a week of the securities regulator further delaying its decision on a spot Bitcoin ETF, which did not go unnoticed.
<h2 style="text-align: justify" id="when-will-the-bitcoin-etf-arrive">When Will the Bitcoin ETF Arrive?</h2>
James Seyffart, along with Eric Balchunas, commented on the recent events and stated that despite the ongoing investigations, the probabilities have not changed and the 90% likelihood remains until January 10.
SEC Commissioner Hester Pierce, a prominent figure in the world of cryptocurrencies, also shared her thoughts on future developments. Speaking with Bloomberg TV reporter Sonali Basak, Pierce said:
<blockquote>
 There is no reason for us to stand in the way of a Bitcoin ETF.
</blockquote>
<img decoding="async" class="aligncenter size-full wp-image-279525" src="https://coin-turk.com/wp-content/uploads/2023/11/GBTC-NYSE-Gorsel.png" alt="" width="542" height="552">
She added that Grayscale’s victory in converting their GBTC product to a spot Bitcoin ETF has made them optimistic about the future. However, she refrained from commenting on whether the SEC intends to approve all Bitcoin ETF applications simultaneously.
According to ETF Store President Nate Geraci, when combined with a strategy focused on competing on fees, this could position Grayscale for dominance. Continue Reading: <a href="https://en.coin-turk.com/grayscale-continues-efforts-for-spot-bitcoin-etf-with-bny-mellon-partnership/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/grayscale-continues-efforts-for-spot-bitcoin-etf-with-bny-mellon-partnership/</a>

Grayscale Continues Efforts for Spot Bitcoin ETF with BNY Mellon Partnership

Table of Contents

COINTURK NEWS

Άλλα άρθρα που δημοσιεύτηκαν στις 22 Νοε 2023

HTX and Heco Chain fall victim to $100 million crypto heist

Why Are Investors Eyeing Ethereum Classic (ETC) Amidst a Market Shake-Up?

BNB Chain Sees 1-year Transaction High; Demonstrates Network Reliability After BSC Surge (22 Nov)

Mt. Gox Creditors to Start Receiving Payouts Worth Billions of USD in BTC, BCH This Year

Bitcoin Exchange Binance Announces It Will Support Network Upgrade and Hardfork of This Altcoin!

Genesis vs. Gemini: $689M Legal Battle Unveils Crypto Chaos

Join our free newsletter for daily crypto updates!