• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Grayscale considers paying out traders if it fails to flip GBTC into an ETF

190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Cryptocurrency investment company Grayscale has launched its hottest statement on the potential of the GBTC fund.

Grayscale considers paying out traders if it fails to flip GBTC into an ETF

Follow Wall Street JournalCryptocurrency investment company Grayscale is thinking about returning investors’ revenue if Grayscale Bitcoin Investment (GBTC) continues to acquire refusals from the US Securities and Exchange Commission (SEC) to convert it into an ETF .

Related articles

Trends and forecasts

XRP: Market evaluation, trends and perspectives for traders

December 17, 2023
New CEO Richard Teng wants to turn Binance into "a normal financial company"

New CEO Richard Teng desires to flip Binance into “a normal financial company”

November 27, 2023

Specifically, Grayscale can return up to twenty% of the GBTC worth issued to the marketplace, CEO Michael Sonnenshein explained in his 2022 summary letter to traders.

Like several of you, I have listened, observed and attempted to analyze truth from fiction about current occasions. Thinking about the potential of our sector, $GBTCand @Grayscalebusiness and stakeholders, I desired to share my ideas.https://t.co/keN2Ny7KB1

— Sonnenshein (@Sonnenshein) December 19, 2022

Due to the SEC’s repeated rejection of proposals to convert the GBTC into an ETF, Grayscale made the decision to sue the Securities and Exchange Commission in June 2022. The business disclosed that it has ready complete arguments to encounter the SEC in a trial to be held in late February and early March following 12 months.

GBTC is a fund issued by Grayscale. As a end result, the business will hold a specified volume of Bitcoin (BTC) in the Grayscale Bitcoin Trust (GBTC). The fund’s GBTC shares can be obtained by person and institutional traders via a US stock brokerage account, producing it a approach employed by several US entities to achieve indirect publicity to Bitcoin.

However, right after the chain crashes of the cryptocurrency sector in 2022, the hottest remaining the bankruptcy of FTX, the worth of GBTC has declined sharply, at times even dropping up to 50% of its worth in contrast to that of genuine FTX Bitcoins . Not only that, other Grayscale crypto investment fund solutions have also suffered the exact same fate, as reported by Coinlive.

If authorized by the SEC to be converted into an ETF, GBTC stock will be in a position to trade on significant US exchanges, a thing Grayscale hopes will aid the stock entry new money flows from the two institutions and standard retail traders, executing so. drive up the cost of GBTC to recover its correct worth towards BTC.

Grayscale’s mother or father business, Digital Currency Group, is explained to be insolvent along with yet another subsidiary, loan company unit Genesis Trading, the two of which are connected to FTX.

In a letter to traders, Mr. Michael Sonnenshein also explained that GBTC and Grayscale are even now steady in terms of economic power and are thoroughly regulated and supervised in accordance with US law. It is also stated that Grayscale has no loan/collateral romantic relationship for fund solutions with Digital Currency Group and Genesis Trading, so unaffected by the latest crisis.

Digital Currency Group CEO Barry Silbert also retweeted the submit by Wall Street Journal without the need of giving more facts. This is the character’s to start with Twitter submit right after far more than two weeks of silence prior to the wave of adverse facts hit his business.

If Grayscale’s Bitcoin ETF dreams fail, company could try a takeover bid, says CEOhttps://t.co/rb2VAPLMfc

— Barry Silbert (@BarrySilbert) December 19, 2022

Synthetic currency68

Maybe you are interested:

Maybe you are interested:

Tags: ConsidersETFFailsGBTCGrayscaleInvestorspayingTurn
Share76Tweet48

Related Posts

CoinShares Reports Strong $286M Inflows into Digital Assets

by shark
June 2, 2025
0

CoinShares reported $286 million in digital asset investment inflows last week, marking a cumulative $10.9 billion over the last seven...

Tether Excluded from Juventus Capital Raise

by shark
June 2, 2025
0

Tether faces exclusion from a Juventus capital raise despite increased investment stake.

Hackers Impersonate Security Firms to Steal Crypto Keys

by shark
June 2, 2025
0

SlowMist warns of evolving scams by hackers impersonating security firms to steal cryptocurrency keys.

Altcoin Market Poised for Potential Bullish Rally

by shark
June 2, 2025
0

Altcoin market sees potential for a major rally with technical indicators signaling a bullish trend.

US Sells Seized Bitcoin, Faces Significant Financial Losses

by shark
June 2, 2025
0

The US government faces a significant financial setback due to the sale of seized Bitcoin holdings, experiencing a notable opportunity...

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • CoinShares Reports Strong $286M Inflows into Digital Assets
  • Tether Excluded from Juventus Capital Raise
  • Hackers Impersonate Security Firms to Steal Crypto Keys
  • Altcoin Market Poised for Potential Bullish Rally
  • US Sells Seized Bitcoin, Faces Significant Financial Losses
  • IG Group Launches Retail Crypto Trading in UK
  • Flare Token Surges Amid XRP Integration Announcement
  • Elon Musk Introduces XChat with New Encryption Features
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7