Coinbase Backs Asset Manager Arca’s Push for Grayscale Bitcoin Trust Conversion to ETF

Posted on by American Coins & Gold

Coinbase Backs Asset Manager Arca’s Push for Grayscale Bitcoin Trust Conversion to ETF
In a letter to the U.S. Securities and Exchange Commission (SEC) on Tuesday, Coinbase urged the agency to approve asset management firm Arca’s application to convert the Grayscale Bitcoin Trust into an ETF.“We believe investors should have access to GBTC in an ETP format because it offers a tried and tested way for retail investors to gain exposure to bitcoin at prices that closely reflect spot bitcoin trading prices without holding it themselves,” the letter said. Coinbase’s chief legal officer Paul Grewal highlighted the company’s position in a series of Tweets Wednesday.”What’s right is right,” Grewal wrote, continuing, “Good on…