Grayscale submits spot Bitcoin ETF securities registration application to SEC
Documents revealed by Watcher.Guru show that Grayscale has submitted its registration application for a spot Bitcoin ETF to the SEC.
Bloomberg Analyst: The revised S-3 document submitted by Grayscale is suspected of adding statement materials on its relationship with the trust’s third party
Bloomberg ETF analyst James Seyffart posted on social media that Grayscale had submitted another revised S-3 earlier. This is the third amendment to convert GBTC to a Bitcoin ETF. It seems that only some evidence related to the third-party relationship of the trust has been added.
Grayscale GBTC has submitted a written prospectus document to the US SEC
Grayscale Bitcoin Trust (GBTC) has submitted a written prospectus to the US Securities and Exchange Commission (SEC) under the US Securities Act 163/433.
Grayscale CEO: GBTC has already confirmed Jane Street and Virtu as APs for its spot Bitcoin ETF in May this year
According to a report by Jinse Finance, the CEO of Grayscale posted on social media that Grayscale had already confirmed in the filing submitted in May of this year that Jane Street Capital and Virtu Americas are authorized participants for its ETF after GBTC is converted to a spot ETF.
Grayscale GBTC negative premium rate currently narrows to 7.57%
According to Coinglass data, the current total value of Grayscale's holdings is approximately $38.558 billion, with the Grayscale Bitcoin Trust Fund (GBTC) having a negative premium rate of 7.57%; the ETH Trust has a premium rate of 13.36%. In addition, the ETC Trust has a premium of 29.03%, and the LTC Trust has a positive premium of 70.72%.
ARK trims holdings of Grayscale Bitcoin Trust as discount narrows and BTC approaches $43K
ARK, led by Cathie Wood, has sold 809,441 shares of Grayscale Bitcoin Trust (GBTC) for around $28 million as bitcoin approaches $43,000. This brings the investment firm's remaining GBTC shares to 3.4 million ($117.4 million), down from a peak of 9 million shares in July 2021. ARK purchased the GBTC shares at an average cost of $24.08, making a profit on this sale as GBTC currently trades at $34.54. Bitcoin is currently trading above $42,900, up 17% in the last 30 days.
Grayscale: Spot Bitcoin ETF in cash model won’t have negative tax implications for investors
Grayscale has issued a statement explaining the potential tax issues for investors in spot Bitcoin ETFs. Unlike mutual funds and many other ETFs, almost all spot commodity ETFs (such as gold) are constructed as trusts for tax purposes. The tax treatment of trusts is different from that of mutual funds, and capital gains or losses in mutual funds may affect the remaining shareholders in the fund. This means that, compared to other types of spot Bitcoin ETFs, any spot Bitcoin ETF that qualifies as a grantor trust will not be at a tax disadvantage in terms of cash redemption based on the book value of ETF assets.
The current negative premium rate of Grayscale GBTC has narrowed to 9.48%
Coinglass data shows that the current Grayscale GBTC negative premium rate is 9.48%, ETH Trust negative premium rate is 13.73%, and ETC Trust negative premium rate is 25.01%. In addition, Grayscale LTC Trust has a premium rate of 53.22%, BCH Trust has a premium rate of 73.37%, SOL Trust has a premium rate of 250.54%, and LINK Trust has a premium rate of 239.30%.
ARK Invest sold GBTC worth approximately $12.85 million again yesterday
Cathie Wood's ARK Invest continued to reduce its holdings of Grayscale Bitcoin Trust (GBTC) on December 11th, selling a total of 395,945 shares worth approximately $12.85 million.
Grayscale CEO: Feeling optimistic after communicating with SEC about spot Bitcoin ETF
Grayscale Investments CEO Michael Sonnenshein said he is optimistic after communicating with the SEC regarding a Bitcoin ETF. He said, "We feel optimistic and have been actively in contact with the SEC. The feedback we have received from them indicates that the SEC wants to be involved in resolving this issue and is eager to make progress on it." Sonnenshein added that the approved timetable has not yet been announced.
