{"id":20302,"date":"2023-04-27T08:10:19","date_gmt":"2023-04-27T08:10:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/grayscales-etf-quest-q3-decision-looms\/"},"modified":"2023-04-27T08:10:19","modified_gmt":"2023-04-27T08:10:19","slug":"grayscales-etf-quest-q3-decision-looms","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/grayscales-etf-quest-q3-decision-looms\/","title":{"rendered":"Grayscale&#8217;s ETF Quest: Q3 Decision Looms"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>Grayscale CEO Michael Sonnenshein announced during CoinDesk\u2019s Consensus 2023 conference on Wednesday that the company is anticipating a decision by the end of the third quarter regarding the approval to convert its $2.7 billion Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF). The Securities and Exchange Commission (SEC) had previously rejected the asset manager\u2019s request for such a conversion.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong> <\/p>\n<p>New players only. Welcome Bonus &#8211; 125% bonus on your first deposit up to $2,500<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The GBTC currently suffers from a well-known discount, with its market value being significantly lower than the actual worth of the bitcoin it holds. Converting it into an ETF could address this issue. Grayscale, a subsidiary of Digital Currency Group like CoinDesk, filed a lawsuit against the SEC following the rejection of their request.<\/p>\n<p>Sonnenshein stated that he expects a verdict in the lawsuit by the end of September, and the company is eagerly awaiting the outcome. The SEC has justified its decision by claiming that it has consistently denied all spot bitcoin ETF applications it has received, in line with its rejection of Grayscale\u2019s proposal.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong> <\/p>\n<p>New players only. Welcome Bonus &#8211; 350% bonus on your first deposit up to 5BTC <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>While Sonnenshein did not comment on whether he believes the ruling will be in Grayscale\u2019s favor, he expressed his intention to \u201cwork expeditiously\u201d with the SEC if the decision is positive. In that case, the company plans to facilitate the conversion and list the product on the NYSE Arca exchange.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>100% up to 5BTC + 100 <strong> Free Spins<\/strong>!<\/strong> <\/p>\n<p>New players only. Welcome Bonus &#8211; 100% bonus on your first deposit up to 5BTC <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/grayscale-anticipates-q3-decision-on-transforming-its-2-7-billion-bitcoin-trust\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Grayscale CEO Michael Sonnenshein announced during CoinDesk\u2019s Consensus 2023 conference on Wednesday that the company is anticipating a decision by the end of the third quarter regarding the approval to convert its $2.7 billion Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF). The Securities and [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":20303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20302"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=20302"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20303"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}