Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now
ETF News

Grayscale’s Conversion of Bitcoin Fund into ETF to Be Decided By Christmas Eve

0
Businessman pointing at ETF (Exchange Traded Funds) on blurred city background

Grayscale’s application to convert its Bitcoin Fund into an exchange-traded fund is expected to be decided upon by the SEC before Christmas, according to a regulatory filing.

The Notice of Filing for the conversion of the fund is expected to either be approved or rejected by the Securities and Exchange Commission by December 24.

The asset management firm is seeking for its GBTC to be converted into an ETF, which has already been received by the corporate regulator. A decision is expected within 45 days.

Should it be approved, the GBTC is expected to attract more investors, but the date of the hearing has yet to be confirmed by either side and could still face postponements or delays.

The filing was made after the approval of the United States’ first futures-backed Bitcoin ETF of ProShares. GBTC is down 1.46%, BITO down 0.87%, and BTC up 0.74%.

Direxion Pulls Out Application for Bitcoin Futures Bear ETF

Previous article

Issuers of 2021 by Market Capitalization: The Top 5

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in ETF News