Grayscale Bitcoin Trust News: 9 Things to Know Following SEC Filing to Convert $GBTC to Bitcoin ETF

Grayscale Bitcoin Trust (OTCMKTS:GBTC) is in the news Tuesday following a filing with the U.S. Securities and Exchange Commission (SEC) to become a Bitcoin (CCC:BTC-USD) Spot ETF.

Piles of gold Bitcoin tokens stacked together representing Grayscale Bitcoin Trust News.

Source: kitti Suwanekkasit /

Let’s dive into everything investors need to know about that Grayscale Bitcoin Trust news below!

  • Grayscale Bitcoin Trust is the flagship product of Grayscale Investments.
  • The company has been working since 2013 to create the largest and most transparent Bitcoin investment vehicle.
  • Grayscale Investments has been working with policymakers and regulators for years to strengthen the position of BTC.
  • It’s looking to make the move to an ETF following the first approval of a Bitcoin Futures ETF by the SEC.
  • ProShares Bitcoin Strategy ETF (NYSE:BITO) holds the title of first Bitcoin Futures ETF and starts trading today.
  • According to Grayscale Bitcoin Trust, it sees the change to a Bitcoin Spot ETF as the natural evolution of offering.
  • Grayscale Bitcoin Trust is the largest Bitcoin investment vehicle in the world as it holds 3.44% of all circulating BTC.
  • The company launched in 2013 before getting a public quotation in May 2015 and finally becoming an SEC reporting company in January 2020.
  • Grayscale Bitcoin Trust notes that its current assets under management come to almost $40 billion.

Dave LaValle, Global Head of ETFs at Grayscale Investments, said the following in the SEC filing.

“At Grayscale, we believe that if regulators are comfortable with ETFs that hold futures of a given asset, they should also be comfortable with ETFs that offer exposure to the spot price of that same asset.”

GBTC stock was up 2.6% as of Tuesday morning.

Investors interested in more recent Bitcoin ETF news are in luck!

InvestorPlace has been tracking the story lately and has plenty of coverage worth looking into. That includes a breakdown of what BITO trading means for Grayscale, details on Bitcoin Futures ETF, and more. You can find all of that by following the links below!

More Recent Bitcoin ETF News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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