Crypto News – Without providing information on allowed participants, cryptocurrency asset management Grayscale has submitted an updated application for a Bitcoin exchange-traded fund (ETF).
According to Eric Balchunas, Grayscale Amended Spot Bitcoin ETF Has a Gap
After the company stated that authorized participants in its proposed ETF may only pay and receive cash for shares, Eric Balchunas, senior ETF analyst at Bloomberg, noticed the updated filing on X. Moreover, Balchunas draws attention to the fact that in the updated paperwork submitted to the US Securities and Exchange Commission (SEC), Grayscale omitted the identities of its authorized participants.
Not sure why since SEC wants to see it and they have been pretty cocksure about having one. Also, nothing on fee (that I could see). That’s big open q too.
Balchunas
Balchunas Wonders Why Grayscale Won’t Provide Details
On December 27, the CEO of Grayscale‘s parent firm, Digital Currency Group, Barry Silbert, announced his departure from the business’s board of directors, and Grayscale filed an amended S-3 filing with the SEC. Balchunas added that it was unclear why Grayscale had deliberately excluded its approved participants while other businesses had offered more details in a separate statement.
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