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    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

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    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

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    NFT Collection Doodles Sees 400% Spike In Volumes On This

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    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

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    Economic Fail Or Key To A Creative Future?

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  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

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    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    Man wearing smart glasses touching a virtual screen to access the metaverse

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    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

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  • Analysis
    Bitcoin

    Bitcoin is Plunging, But It’s Too Early to Say Bulls Have Given Up

    Ethereum

    Ethereum Key Indicators Suggest A Sharp Drop Below $1K

    Bitcoin bear

    Why Bitcoin Must Break $22,500

    Bitcoin

    Bitcoin Turns Red, Why BTC Could Trade To New Monthly Lows

    Ethereum

    Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $1.2K

    Ethereum

    Ethereum Plugs 11-Week Bleed, why $1,500 May Be On The Horizon

    Bitcoin

    Bitcoin Dips Further, Why BTC Could Revisit $20K

    Ethereum

    Ethereum Turns Red, Why ETH Must Hold This Key Support

    bitcoin bollinger bands

    Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

  • Learn About Crypto
    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Top 10 Blockchain and Crypto Events in July

    Crypto Chart Patterns for Trading

    Crypto Chart Patterns for Trading

    Overbought vs. Oversold Signals

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    What Is a Decentralized Exchange (DEX)?

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    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

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    How to Survive a (Crypto) Bear Market

    How to Survive a (Crypto) Bear Market

    Top 6 Crypto Events for June 2022 – Coingape

  • Regulation
    Russian central bank exec is OK with crypto mining under one condition

    Russian central bank exec is OK with crypto mining under one condition

    OpenSea data breach causes massive leak of users’ email addresses

    OpenSea data breach causes massive leak of users’ email addresses

    First Spot Bitcoin ETF approved to launch in Europe in July

    First Spot Bitcoin ETF approved to launch in Europe in July

    E.U. moves further in its crypto regulation

    E.U. moves further in its crypto regulation

    BREAKING: Grayscale launches legal challenge to Bitcoin spot ETF rejection

    BREAKING: Grayscale launches legal challenge to Bitcoin spot ETF rejection

    EU officials reach agreement on AML authority for supervising crypto firms

    EU officials reach agreement on AML authority for supervising crypto firms

    IRS Forced To Delay Crypto Tax Collection As Industry Struggles With New Rules: Report

    IRS Forced To Delay Crypto Tax Collection As Industry Struggles With New Rules: Report

    US govt delays enforcement of crypto broker reporting requirements: Report

    US govt delays enforcement of crypto broker reporting requirements: Report

    NYDIG study calculates the value of regulation worldwide in terms of BTC price gains

    NYDIG study calculates the value of regulation worldwide in terms of BTC price gains

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Home Bitcoin News

Grayscale Encourages U.S. Investors to Push for a Bitcoin ETF

February 22, 2022
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Grayscale Encourages U.S. Investors to Push for a Bitcoin ETF
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  • Grayscale Investments has launched a campaign encouraging American investors to push the SEC into approving a spot Bitcoin ETF
  • The campaign involves US investors, submitting comments on Grayscale’s application with the SEC for a spot Bitcoin ETF
  • Grayscale plans to convert its Bitcoin Trust to a spot Bitcoin ETF
  • The move would benefit investors by offering exposure to Bitcoin as well as lowering the discount price on the GBTC

The Wall Street investment firm of Grayscale has launched a campaign encouraging American investors to push the Securities and Exchange Commission into approving a spot Bitcoin ETF.

Key to the campaign by Grayscale is the submission of comments by U.S. investors on its application with the SEC to convert its Grayscale Bitcoin Trust, into a spot Bitcoin ETF.

Grayscale’s CEO, Michael Sonnenshein, further explained that investors in the United States, have a unique opportunity to communicate directly with the SEC with regards to the spot Bitcoin ETF. He explained:

We will…ensure that the investing public is aware of the unique opportunity they have to voice their opinions directly to the SEC – a critical part of our existing regulatory process.

The hundreds of comments already submitted on behalf of GBTC’s conversion to an ETF further demonstrates that this issue is of the utmost importance to investors.

It is clear we have reached a tipping point in the adoption of digital assets. Maintaining the regulatory status quo may feel like the safe option, but the reality is that failing to keep pace with change is the far riskier path for main street investors and our country.

How To Submit Comments to the SEC Regarding the Spot Bitcoin ETF Application by Grayscale

Citizens and residents of the United States who are interested in participating in the process can submit their comments to the SEC as follows.

  1. Send an email to [email protected]
  2. “File No. SR-NYSEArca-2021-90” has to be included in the subject line of the email
  3. Explain in the email body, why the SEC should consider the conversion of the Grayscale Bitcoin Trust to a spot ETF

Conversion of the Grayscale Bitcoin Trust Will Close the Discount on GBTC

One benefit of converting the Grayscale Bitcoin Trust into an ETF is that it will eliminate the current discount on the GBTC in relation to the underlying asset value.

At the time of writing, GBTC is trading at $27.33. Each GBTC share represents 0.0009288 BTC which is valued at $34.83 using Bitcoin’s current value of $37,500.

Doing the math, GBTC is trading at a 21.53% discount when compared to the value of the underlying asset.

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Tags: BitcoinEncouragesETFGrayscaleInvestorsPush
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