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Topic: GRAYSCALE AND WALL STREET BITCOIN ETF - page 2. (Read 248 times)

bitmover
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bitcoindata.science
Re: GRAYSCALE AND WALL STREET BITCOIN ETF
June 28, 2022, 03:31:31 PM
#2
Quote from: Hold-n-play on June 28, 2022, 03:18:12 PM

I realize that any lawsuit is usually a long-term process but this might be a light at the end of tunnel... Given the potential importance of ETF for BTC in terms of mass adoption, I look forward to seeing updates concerning this situation. 

Etf is not important for mass adoption .

Etf is just a good financial instrument to be exposed to bitcoin price without actually owing it.

Mass adoption is totally different. It is more related to people actually owing bitcoin and buying stuff with it. Or even holding actual bitcoins.

Additionally,  Grayscale is particularly interested in it because an etf would help them control share quantity and the price spread. Geayscale trust is being traded now for 30% discount and an etf might help change that discount.
Hold-n-play
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Re: GRAYSCALE AND WALL STREET BITCOIN ETF
June 28, 2022, 03:18:12 PM
#1
https://www.bloomberg.com/news/articles/2022-06-27/grayscale-bitcoin-trust-lines-up-jane-street-virtu-in-etf-bid

Grayscale announced a deal Monday with Wall Street trading firms Jane Street and Virtu Financial (VIRT) to close the discount on its Bitcoin Trust (GBTC-USD) following potential ETF conversion. Since Grayscale submitted its application for ETF conversion in October 2021, the SEC has delayed approval three times.

Now, as part of the regulatory process, the regulator can no longer delay the application and must make a final decision on July 6.

In my opinion, this is not going to happen and SEC will likely reject it. 

However, here is an interesting twist in this story. The firm’s global head of ETFs, David LaValle stated that if the SEC doesn’t approve GBTC’s conversion, the firm is prepared to appeal the decision by suing the regulator.

I realize that any lawsuit is usually a long-term process but this might be a light at the end of tunnel... Given the potential importance of ETF for BTC in terms of mass adoption, I look forward to seeing updates concerning this situation. 

Thanks for reading my post.
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