Media: Grayscale Prepares To Apply For Bitcoin ETF "Early In The Week"
Edition of CNBC , citing informed sources reported that the company Grayscale Investments, which manages digital assets, will apply for renewal of their Bitcoin-fund ETF «at the beginning of [this] week." The media said Grayscale plans to send its application after the Securities and Exchange Commission (SEC) approves the exchange-traded fund based on the first cryptocurrency, and ProShares already received such permission last Friday.
Grayscale previously stated that in the future, each individual cryptocurrency trust will be converted to an ETF, and the Bitcoin Trust (GBTC), which is the largest of the two, looks set to be the first. GBTC accounts for $ 38.68 billion in funds under management, out of a total of $ 52.6 billion.