ETFdb Logo
ETFdb Logo
  • ETF Database
  • Channels
    • Active ETF
    • Alternatives
    • Beyond Basic Beta
    • China Insights
    • Climate Insights
    • Commodities
    • Core Strategies
    • Crypto
    • Disruptive Technology
    • Dividend
    • Dual Impact
    • Emerging Markets
    • Energy Infrastructure
    • ESG
    • ETF Building Blocks
    • ETF Education
    • ETF Strategist
    • Fixed Income
    • Free Cash Flow
    • Future ETFs
    • Global Diversification
    • Gold & Silver Investing
    • Innovative ETFs
    • Institutional Income Strategies
    • Leveraged & Inverse
    • Managed Futures
    • Market Insights
    • Megatrends
    • Modern Alpha
    • Multi-Asset
    • Night Effect
    • Portfolio Strategies
    • Retirement Income
    • Richard Bernstein Advisors
    • Tax Efficient Income
    • Thematic Investing
    • Volatility Resource
  • Tools
    • ETF Screener
    • ETF Country Exposure Tool
    • ETF Sector Tracker Tool
    • ETF Database Categories
    • Head-To-Head ETF Comparison Tool
    • ETF Stock Exposure Tool
    • ETF Issuer Fund Flows
    • Indexes
    • Mutual Fund To ETF Converter
    • ETF Data for Journalists
    • ETF Nerds
  • Research
    • First Bitcoin ETF
    • ETF Education
    • Equity Investing
    • Dividend ETFs
    • Leveraged ETFs
    • Inverse ETFs
    • Index Education
    • Index Insights
    • Top ETF Sectors
    • Top ETF Issuers
    • Top ETF Industries
  • Webcasts
  • Themes
    • AI ETFs
    • Blockchain ETFs
    • See all Thematic Investing ETF themes
    • ESG Investing
    • Marijuana ETFs
  • Multimedia
    • ETF 360 Video Series
    • ETF Trends on Videos
    • ETF Trends on Podcasts
    • ETF Prime Podcast
  • Company
    • About Us
    • Swag Store
  • PRO
    • Pro Content
    • Pro Tools
    • Advanced
    • FAQ
    • Pricing
    • Free Sign Up
    • Login
  1. Crypto Channel
  2. Grayscale Urges Investors to Push a Spot Bitcoin ETF
Crypto Channel
Share

Grayscale Urges Investors to Push a Spot Bitcoin ETF

James ComtoisFeb 22, 2022
2022-02-22

Grayscale Investments is encouraging American investors to submit comments on its application with the Securities and Exchange Commission to convert the Grayscale Bitcoin Trust (GBTC) to a spot bitcoin ETF.

As part of Grayscale’s application to convert GBTC to an ETF, there is a standard 240-day review period during which the public is invited to submit comments to the SEC for consideration. In a February 2022 notice, the SEC requested comments from the American public, saying: “The Commission asks that commenters address the sufficiency of the Exchange’s statements in support of the proposal, which are set forth in the Notice, in addition to any other comments they may wish to submit about the proposed rule change.”

“American investors should have a choice in how to obtain Bitcoin exposure,” said Grayscale CEO Michael Sonnenshein. “Every day I hear from investors who are patiently waiting for the familiarity and protections of a Spot Bitcoin ETF. We will use the strength of Grayscale’s brand and resources to continue to advocate for these investors and 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.”

Grayscale has set up a dedicated campaign page to encourage investors to comment.

“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,” Sonnenshein added. “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.”

To date, the SEC has only permitted bitcoin futures ETFs and rejected spot bitcoin ETFs. Grayscale filed for the conversion in October of 2021. In December,  Grayscale prepared to sue SEC with a pre-action letter arguing that the SEC’s decision to allow a futures ETF but not a spot bitcoin one is “arbitrary and capricious.”

The SEC is required to post, review, and address each comment submitted in accordance with this process. Other comments from American investors, financial advisors, lawyers, and advocates can be found on the SEC’s website.

Interested people can follow these directions to submit comments to the SEC by February 25th, when comments close.

For more news, information, and strategy, visit the Crypto Channel.

Loading Articles...
Help & Info
  • Contact Us
Tools
  • ETF Screener
  • ETF Analyzer
  • Mutual Fund to ETF Converter
  • Head-To-Head ETF Comparison
  • ETF Country Exposure Tool
  • ETF Stock Exposure Tool
  • ETF Performance Visualizer
  • ETF Database Model Portfolios
  • ETF Database Realtime Ratings
  • ETF Database Pro
More Tools
  • ETF Launch Center
  • Financial Advisor & RIA Center
  • ETF Database RSS Feed
Explore ETFs
  • ETF News
  • ETF Picks of the Month
  • ETF Category Reports
  • Premium Articles
  • Alphabetical Listing of ETFs
  • Best ETFs
  • Browse ETFs by ETF Database Category
  • Browse ETFs by Index
  • Browse ETFs by Issuer
  • Compare ETFs
Legal
  • Terms of Use and Privacy Policy
  • © 2023 VettaFi LLC. All rights reserved.
Follow ETF Database
Follow ETF Database

Advertisement

Is Your Portfolio Positioned With Enough Global Exposure?

ETF Education Channel

How to Allocate Commodities in Portfolios

Tom LydonApr 26, 2022
2022-04-26

A long-running debate in asset allocation circles is how much of a portfolio an investor should...

Core Strategies Channel

Why ETFs Experience Limit Up/Down Protections

Karrie GordonMay 13, 2022
2022-05-13

In a digital age where information moves in milliseconds and millions of participants can transact...

}
X