CRYPTO

Grayscale Bitcoin confirms ETF plan and adds exposure to ZCash, Stellar lumens and Horizon to its trust

Institutional Asset Manager Grayscale has announced that the United States Securities and Exchange Commission (SEC) will transform its GBTC Trust into an Exchange-Traded Fund (ETF) if it is “comfortable” with the recently approved Bitcoin Future ETF.

In a Twitter thread on Monday, Grayscale Communications Director Jennifer Rosenthal Said The asset manager will move forward While providing an ETF, “the SEC has officially expressed its necessary consolation with the underlying bitcoin market.” The offer will convert the asset manager’s Grayscale Bitcoin Trust (GBTC), first listed in 2013, into an ETF.

“Once official and verifiable evidence of SEC’s consolation with the underlying Bitcoin market is found সম্ভবত perhaps if Bitcoin Future is considered effective in the form of ETFs, NYSE will file a document called Arca 19B-4 that will convert that GBTC to ETF,” Rosen said. Said.

The announcement follows ProShares’ announcement that its Bitcoin (BTC) futures-linked ETF ticker will start trading on the New York Stock Exchange under BITO. The Bitcoin Strategy ETF will be listed on Nasdaq and may be accepted by others in the near future – the SEC currently has a number of crypto ETF applications under review.

Related: Grayscale has added SOL and UNI to the Digital Large Cap Fund portfolio

Grayscale has added three cryptocurrencies available for trading through its Crypto Investment Trust product suite. The company said its Grayscale ZCash Trust, Grayscale Stellar Lumens Trust and Grayscale Horizon Trust are now listed on the OTCQX Best Market under the TC symbols ZCSH, GXLM and HZEN, respectively.

According to Grayscale, the three trusts are not subject to the requirement of registration and disclosure from the SEC. Vehicles provide investors with a way to gain exposure to tokens without having to invest them directly. Grayscale offers six more crypto investment products, including exposure to Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Etherium Classic (ETC) and Litcoin (LTC), in addition to its Digital Large Cap Fund, a cryptocurrency.