Grayscale Files With SEC to Convert Its Bitcoin Trust Into an ETF

Posted on by American Coins & Gold

Grayscale Files With SEC to Convert Its Bitcoin Trust Into an ETF
Grayscale Investments, the world’s largest digital currency asset manager, has filed with the Securities and Exchange Commission to convert its Grayscale Bitcoin Trust (GBTC) into a bitcoin spot ETF, the company announced in a press release Tuesday.The move comes just after the SEC cleared the way on Friday for bitcoin futures ETFs to trade, with ProShares Bitcoin Strategy ETF scheduled to start trading on the NYSE on Tuesday.GBTC first launched in 2013 and has become the largest bitcoin investment vehicle in the world, with assets under management of close to $40 billion. It holds roughly 3.44% of all bitcoin in…