Bloomberg Analyst Outlines Theories on BlackRock's Move to File Bitcoin ETF - Here's His Outlook
June 18 (Cointime) - BlackRock, the world's largest investment management company, has filed for a Bitcoin exchange-traded fund (ETF) called the iShares Bitcoin Trust.
Grayscale Investments® Files Request for Withdrawal of Voluntary Registration Statement on Form 10 for Grayscale Filecoin Trust
Grayscale Investments has filed a request with the US Securities and Exchange Commission (SEC) to withdraw its registration statement on Form 10 for Grayscale Filecoin Trust. The SEC had requested that Grayscale withdraw the trust's registration statement, stating that Filecoin meets the definition of a security under federal securities laws. However, Grayscale believes that Filecoin is not a security and provided an explanation of its legal basis in response to the SEC staff's comment letter. Despite this, the SEC reiterated its request for withdrawal following naming FIL as a security in certain filings in federal district court.
Grayscale and Bitwise Halt Plans for ETH Futures ETFs Amid US Regulatory Scrutiny
Grayscale and Bitwise, two prominent crypto asset managers, have halted their plans for an ETH futures exchange-traded fund (ETF) due to increased scrutiny from US regulators. Grayscale filed an amendment to its Securities and Exchange Commission filing on May 17 to remove mentions of Ethereum futures ETF, just a week after announcing plans to launch a trio of ETF products.
Crypto Market Experiences Significant Drop, Bitcoin Falls 4.52% in Last 24 Hours
The value of Bitcoin has dropped by 4.52% in the past 24 hours, leading to a decline in the overall cryptocurrency market. Bitcoin's current value is $26,289, which is its lowest since March 14. The market is facing a range of challenges, including a stronger dollar index, liquidity problems, a bearish chart pattern, and rumors about Binance US and Grayscale.
Grayscale Investments Forms New Trust in Effort to Launch Bitcoin ETF in the US
Grayscale Investments, the world's largest digital asset manager, has announced the formation of a new trust, Grayscale Funds Trust, as part of its efforts to launch a spot Bitcoin Exchange Traded Fund (ETF) in the US. The new Delaware statutory trust structure will allow Grayscale to independently manage its 1940 Act products and expand its ETF business. The company has also filed a new registration statement with the US Securities and Exchange Commission for a new Ethereum Futures ETF, a new Grayscale Global Bitcoin Composite ETF, and a Grayscale Privacy ETF. Grayscale is currently engaged in legal warfare with the SEC over its refusal to approve spot Bitcoin ETF products in the US.
Grayscale Launches Funds Trust and Files for Three ETFs with SEC
Grayscale Investments, the leading digital currency fund manager, has announced the launch of the Grayscale Funds Trust and filed registration statements for three exchange-traded funds with the U.S. Securities and Exchange Commission. The trust is a Delaware statutory trust structure that aims to strengthen the company's global asset management capabilities. Grayscale Advisors, an SEC-registered investment advisor, will serve as the new trust's advisor. The newly launched funds include the Grayscale Ethereum Futures ETF, Grayscale Global Bitcoin Composite ETF, and Grayscale Privacy ETF. Grayscale CEO Michael Sonnenshein stated that the creation of the Grayscale Funds Trust reflects their commitment to scaling their business responsibly.
Grayscale Worried SEC May Prevent Use of Coinbase for Crypto Assets
Grayscale Investments, the company behind the Grayscale Bitcoin Trust and Grayscale Ethereum Trust, has expressed concerns that the SEC's proposed new rules around safeguarding custody of clients' crypto funds could prevent it from using Coinbase as the sole holder of its $5.4 billion of crypto assets. The proposed rule would make it illegal for centralized exchanges like Coinbase to hold customer funds in commingled accounts and credit customers for their value, rather than providing an individual wallet for each customer. Grayscale currently stores its funds with Coinbase via the Coinbase Custody Trust Company, which holds Grayscale's assets in offline cold storage, via unique onchain addresses, and are never commingled with other clients' funds. Coinbase has also complained about the proposed rule, which would ban registered investment advisers from trading on non-qualified custodian crypto exchanges.
Grayscale Files for Three New Crypto Investment Funds, Including Ethereum Futures ETF
Grayscale Investments has announced the formation of a new entity called Grayscale Funds Trust and the filing of registration statements for three new ETFs related to cryptocurrency. The Grayscale Funds Trust will allow the firm to manage its older products while pursuing ETFs.
DCG’s Barry Silbert Sells $755K Worth of Grayscale Ethereum Classic Trust Shares
Barry Silbert, the founder and CEO of Digital Currency Group (DCG), has moved to liquidate nearly 120,000 Grayscale Ethereum Classic Trust(ETCG) shares, worth an aggregate market value of approximately $755,295 dollars.
Grayscale Suggests Bitcoin Ordinals Could Boost Development and Mining Fees
Cryptocurrency investment firm Grayscale suggests that Bitcoin Ordinals, also known as Bitcoin NFTs, could boost development and mining fees in the Bitcoin ecosystem. Grayscale highlights that the introduction of Ordinals led to an increase in total fees paid to miners, potentially establishing a sustainable baseline level of transaction fees to incentivize miners and ensure continued network security throughout the lifetime of the Bitcoin network.
