Grayscale’s Request to Convert Bitcoin Trust to ETF Delayed by SEC
The Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s request to convert its Bitcoin Trust (GBTC) to an exchange-traded fund (ETF). The decision is expected to be announced on August 18, after reaching the 160-day mark since a speech was given in March. Amid the uncertainty, Grayscale has announced a job position for a Senior Associate in its ETF team, leading to speculation about its connection to the awaited decision.
Main Breakdowns:
– SEC delays decision on Grayscale’s request to convert Bitcoin Trust to ETF.
– Grayscale announces a job position for a Senior Associate in its ETF team.
– Grayscale challenges SEC’s acceptance of leveraged Bitcoin futures ETFs while rejecting spot Bitcoin ETF applications.
– Jacobi Asset Management approves the first European Bitcoin ETF.
– Grayscale ETF team seeks a Senior Associate to support the development of its ETF business.
Grayscale ETF Team Job Description
Grayscale Investments is hiring a Senior Associate for its ETF team to assist in the development of its ETF business. The responsibilities include supporting the team in all phases of the product life cycle and require experience in investments, compliance, and data analysis. Interested individuals can apply through the provided link.
Michaël van de Poppe’s Perspective
Michaël van de Poppe, a well-known crypto analyst, believes a positive outcome for Grayscale’s Bitcoin ETF is possible. This news comes as Bitcoin’s price drops by 2.53% in the last 24 hours.
Hot Take
The delay in the SEC’s decision on Grayscale’s request adds to the uncertainty surrounding the future of Bitcoin ETFs. Grayscale’s move to hire a Senior Associate for its ETF team shows their commitment to pursuing this avenue. Whether the outcome is positive or negative, it is likely to have an impact on Bitcoin’s price, although the extent of this effect will depend on the overall sentiment in the crypto market.
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