
April 21st, 2025
Grayscale is hoping that the proposed changes to GBTC’s Trust Agreement would help both the company and GBTC to achieve operational efficiencies.
The revised proposal allows the ETF to utilize both in-kind and cash mechanisms. The ETF plans to store Bitcoin in cold storage, with custody services provided by Coinbase Custody Trust.
The update from the SEC appears to suggest that it plans to approve all Bitcoin exchange-traded funds (ETFs) at once.
Ark Invest seems to be rearranging its investment portfolio and has continued to sell huge amounts of Coinbase, while acquiring Robinhood shares.
The SEC website showed one memorandum with details of a discussion with BlackRock, and another one on a discussion with Grayscale.
JPMorgan expects strong liquidation of the GBTC shares. Finance giant Ark Invest has already liquidated 700,000 shares over the last month.
Popular trader Bitcoin Jack expressed doubt about BTC hitting $42,000, pointing out that the Binance and ETF news failed to significantly alter market dynamics
Market experts are convinced the settlement between Binance and the US government is a bullish event for Bitcoin and the altcoin industry with spot ETFs anticipated anytime soon.
In the filing BlackRock proposed In-kind redemptions could also offer tax efficiency, avoiding the need to sell securities for redemptions, which might trigger capital gains taxes.
Legal experts, including Ripple lawyer John E. Deaton, share Armstrong’s optimism, speculating that Coinbase will be a significant beneficiary of Binance’s regulatory challenges.
Bernstein analysts are not the only experts who believe Binance will remain the world’s leading crypto exchange despite the recent settlement with the US authorities.
Grayscale is poised to enter the ETF market on the first day with $20 billion in assets under management, even with the involvement of BlackRock.
The third amendment is another attempt for ARK Invest to ensure that the proposal for the ARK 21Shares spot Bitcoin ETF will pass the SEC’s screening.
This acquisition will prepare CoinShares to position itself in the US markets ahead of the upcoming launch of spot Bitcoin ETFs.
The SEC announced a delay in deciding on the Bitcoin and Ether ETFs from Hashdex and Grayscale, stating that it needs more time.