Crypto Asset Manager Grayscale Updates Filing for Bitcoin ETF
Crypto asset manager Grayscale has made an updated filing with the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin (BTC) exchange-traded fund (ETF). This comes on the same day that Barry Silbert, CEO of parent company Digital Currency Group, announced his resignation from Grayscale’s board of directors.
Silbert’s Departure Increases Chances of ETF Approval?
Speculation has arisen that Silbert’s departure could increase the likelihood of Grayscale successfully converting its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. The conversion is currently awaiting a decision from the SEC.
Grayscale Accepts Cash Creation Model
An amended S-3 filing by Grayscale revealed that the company has “finally given in” to the cash creation model. This move was noted as significant by Bloomberg ETF senior analyst Eric Balchunas.
Silbert Resigns from Board of Directors
On December 26, Silbert stepped down from the board of directors of Grayscale Investments. The reasons behind his decision are unknown.
Hot Take: Silbert’s Exit and Grayscale’s ETF Prospects
The departure of Barry Silbert from Grayscale’s board of directors has sparked speculation about the potential approval of a Bitcoin ETF. With Grayscale updating its filing and accepting the cash creation model, there is anticipation regarding the future of its Grayscale Bitcoin Trust. As the SEC decision looms, market watchers are closely monitoring these developments to see if they will impact the path to a spot Bitcoin ETF.
By
By
By
By
By