Grayscale won in its prolonged case against the US Securities and Exchange Commission (SEC). The asset manager's appeal to have its Bitcoin Trust (GBT
First, GBTC investors could finally redeem their fund shares, something the asset manager was struggling with, and reduce fees. These concerns had been raised by FTX's sister firm, Alameda Research. An approval would, therefore, quell the claims levied by the crypto hedge fund.
Hang in there! It's frustrating when egos get in the way of progress, but hopefully the SEC will come around and help all those who can benefit from the GBTC conversion. Keep the faith!The market responding to the recentis driving increased demand for the Grayscale Bitcoin Trust shares. Citing Bloomberg Intelligence expert James Seyffart:
A Bitcoin Trust is a close-ended fund . This is different from ETFs, where authorized participants can maintain close value for their assets. Traders can create new shares of an ETF, making money when its market capitalization goes above its stock value. When market capitalization drops relative to the value of stocks, traders can redeem shares.
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