However, the SEC’s spate of recent denials is preventing this from coming into fruition. The move for Grayscale’s GBTC to an ETF would make it a more dynamic investment vehicle, as well as give it more exposure via a public U.S. Even with 2022’s bear market in cryptocurrencies, there’s still high interest in meshing this new asset class with the traditional financial market. Grayscale and other ETF providers’ goals are apparent: getting a spot Bitcoin ETF approval can help bring more institutional money to the digital assets space, especially after last year’s bull run. stock market, but the SEC also denied its approval, noting a lack of investor protection-a common refrain for SEC denials. Recently, WisdomTree also attempted to bring a spot Bitcoin ETF to the U.S. Grayscale’s attempt at a spot Bitcoin ETF is not the SEC’s latest block.
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