NEW YORK: The company behind the world’s largest cryptocurrency trust intends to flip it into an exchange-traded fund (ETF) as soon as US regulators allow.
Grayscale Investments LLC is “100% committed” to converting the US$39bil Grayscale Bitcoin Trust (GBTC) into an ETF, the company said in a blog post yesterday. While the Securities and Exchange Commission has yet to approve the structure, several issuers have filed applications in recent weeks after North America’s first bitcoin ETFs began trading in Canada in February.
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