What’s Next for Grayscale, Spot Bitcoin ETF After SEC Declines to Appeal Court Decision?
One analyst believes SEC Chair Gary Gensler has little choice but to soon approve the long-awaited vehicle.
One analyst believes SEC Chair Gary Gensler has little choice but to soon approve the long-awaited vehicle.
The narrowing of the discount likely represents increased likelihood that Grayscale will be able to convert its close-ended bitcoin trust into a spot-based exchange-traded fund.
The decision, reported by Reuters, boosts the odds that Grayscale Investments will be able to turn its Grayscale Bitcoin Trust (GBTC) into a more investor-friendly ETF.
The agency has hours left to seek an appeal of the court order to erase its rejection of Grayscale’s trust-to-ETF conversion application.
The latest price moves in crypto markets in context for Oct. 6, 2023.
Initial action suggested only very modest interest in the first U.S. futures-based ether ETFs.
The latest price moves in crypto markets in context for Oct. 3, 2023.
Bitcoin slumped below $28,000, and ether dipped below $1670.
“Pretty meh volume” for the group, said one analyst.
Traders at Japanese exchange Bitbank said in a daily note that they expect bitcoin prices to move towards the $28,000 level, citing ETF optimism.