Grayscale Said Close to Filing to Convert Bitcoin Fund Into Spot ETF: CNBC

Posted on by American Coins & Gold

Grayscale Said Close to Filing to Convert Bitcoin Fund Into Spot ETF: CNBC
Grayscale Investments plans on applying to convert the world’s biggest bitcoin fund into a spot exchange-traded fund (ETF) early this week, according to a report by CNBC, citing a person with knowledge of the matter.While the exact timing of Grayscale’s intended filing may be new, the world’s largest digital asset manager has made no secret of its intent to seek approval for a spot bitcoin-based ETF once a futures-based one cleared the commission. That approval occurred on Friday.Grayscale’s ETF would be backed by actual units of the cryptocurrency, not simply linked it via derivatives contracts such as futures. Should the…