Grayscale, a crypto asset manager, has made amendments to its ETF strategy in order to comply with the cash-only redemption demands of the United States Securities and Exchange Commission (SEC). The revised filing excludes airdrops and forks, and instead focuses on facilitating fund creation and redemption using cash. This move aligns with the SEC’s preference for cash creation over the in-kind method, which aims to address concerns of market manipulation and illicit activities. While some question the decision to exclude airdrops and forks, it is believed that the SEC’s influence may have played a role in this move. Overall, these amendments are seen as a crucial step towards Grayscale’s goal of converting its Bitcoin Trust into an exchange-traded fund (ETF).
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| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Eric Balchunas, Scott Johnsson |
| Companies | NYSE Arca, United States Securities and Exchange Commission (SEC), BlackRock, Grayscale |
| Currencies | Bitcoin |
| Securities | None |
