On Monday, the digital currency asset manager Grayscale Investments announced intentions to file for a bitcoin exchange-traded fund (ETF) when permissible. The subsidiary of Digital Currency Group (DCG) says in regard to its crypto trust products that it always been the company’s intention “to convert these products into an ETF.”
Transforming Grayscale’s $34 Billion Bitcoin Trust Into an Exchange-Traded Fund
It looks like Grayscale Investments is planning to join the race of firms looking to launch an exchange-traded fund (ETF) in the United States. Grayscale announced intentions for a bitcoin ETF on April 5, 2021, by leveraging the company’s blog. Established in 2013, Grayscale Investments launched the firm’s bitcoin trust (GBTC) and today GBTC has $34 billion in assets under management (AUM). Grayscale also offers a number of other publicly traded crypto products and the business is the world’s largest asset manager for digital currencies.
“In recent months there’s been a growing number of questions around the possibility of