- Robinhood has listed the Grayscale Bitcoin Belief (GBTC) and the Grayscale Ethereum Belief (ETHE)
- Yesterday, Grayscale filed Type 10 registration statements with the SEC for Grayscale Horizen Belief, Grayscale Stellar Lumens Belief, and Grayscale Zcash Belief
- Grayscale continues to be optimistic that the SEC will approve the conversion of its Grayscale Bitcoin Belief to a spot Bitcoin ETF
The favored buying and selling platform of Robinhood has listed the Grayscale Bitcoin Belief (GBTC) and the Grayscale Ethereum Belief (ETHE). Information of the 2 funding merchandise being out there on the favored buying and selling platform was made public by way of Twitter by the Founder and CEO of Digital Foreign money Group, Barry Silbert.
— Barry Silbert (@BarrySilbert) May 6, 2022
Grayscale Recordsdata Type 10 Registration for Horizen, Stellar Lumens, and ZCash Trusts
The supply of GBTC and ETHE on Robinhood comes lower than 24-hours after Grayscale announced that it had publicly filed Registration Statements on Type 10 with the US Securities and Alternate Fee for the Grayscale Horizen Belief, Grayscale Stellar Lumens Belief, and Grayscale Zcash Belief.
In response to Grayscale, the filings have been voluntary and topic to SEC overview. Moreover, ‘the merchandise are funding merchandise that enable buyers to extra successfully implement strategic and tactical asset allocations that incorporate digital property by utilizing the merchandise’ share.’
Grayscale Optimistic that it Will Convert its GBTC right into a Spot Bitcoin ETF
On the similar time, Grayscale has a pending software on the SEC to transform its Grayscale Bitcoin Belief right into a spot Bitcoin ETF. The corporate’s Chief Authorized Officer, Craig Salm, just lately answered questions concerning the conversion course of, the place he defined how it will occur. He said:
GBTC share costs will doubtless transfer to commerce according to NAV. Then, the shares could be uplisted from OTCQX to NYSE Arca. Grayscale and our companions would deal with this behind the scenes.
Importantly, in case you are an investor that’s already holding shares of GBTC you wouldn’t must do something. None of this could inherently signify a taxable occasion for shareholders both.
Mr. Salm went on so as to add that there’s nonetheless a window to submit feedback to the SEC in help of the Grayscale Bitcoin ETF software. Over 2,600 feedback have been submitted, and Grayscale hopes that extra buyers will think about emailing their ideas concerning the ETF to the SEC.