GBTC TO AN ETF
As part of our filing to convert Grayscale Bitcoin Trust (Symbol: GBTC) to an ETF,* the SEC provides a 240-day review period for anyone to submit comments for consideration.
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Why your submission matters
Level the playing field
To date, the SEC has only permitted Bitcoin Futures ETFs, while rejecting “physically-backed” or Spot Bitcoin ETFs.
The choice should be yours
If you’ve been waiting for the familiarity and protections of a Bitcoin ETF, we believe you should not be forced into a Futures-based product simply because it’s the only one that exists.
Help take GBTC to the next level, conversion to an ETF
It’s already the world’s largest Bitcoin fund and regularly reports to the SEC on a voluntary basis as an SEC-reporting company.
Investors deserve a Spot Bitcoin ETF – it’s time to make your voice heard.
How to submit
What this could
mean for GBTC
If GBTC is approved to convert to an ETF by the SEC, a few key things would change:
It would uplist from OTCQX to the New York Stock Exchange
The ETF would more efficiently track the price of Bitcoin, effectively eliminating premiums and discounts
Grayscale would reduce management fees for GBTC
Timeline of key milestones
SEC Commissioner Hester Peirce speaks out echoing support for Spot Bitcoin ETFs:
“I can’t believe we’re still talking about this as if, you know, we’re waiting for one to happen,” Peirce said. “We’ve issued a series of denials even recently, and those continue to use reasoning that I think was outdated at the time.”