grayscalewhich allows it to manage its publicly traded financial products in-house. Grayscale Funds Trustannounced the founding of a new company.
May 9In addition to the new trust, the company announced three new crypto-focused ETFs. United States Securities and Exchange Commission He announced that he had submitted an application statement to . The new funds the company plans to issue will consist of an Ethereum Futures ETF, a Global Bitcoin Composite ETF, and a Privacy ETF.
Pending SEC Approval for ETFs
Global Bitcoin Composite ETFwill invest in Bitcoin-related or Bitcoin-powered and exchange-traded products, including Bitcoin mining firms.
Similarly, Ethereum futures ETF will allow to participate indirectly in the future potential value of Ethereum through shares that follow the price of ETH. filing filed by the company with the SEC, Grayscale Privacy ETFIt also explains that it will invest in companies working on blockchain-based privacy technology.
None of the three ETFs will be available for public purchase until the registration statement regarding the Grayscale Funds Trust is approved by the SEC.
On January 13, Grayscale argued that the SEC discriminated against crypto spot-traded exchange-traded products from futures products, and filed a lawsuit against the regulator for rejecting its application. Grayscale, in the summary he prepared against the SEC: “There is a 99.9 percent correlation between prices in the Bitcoin futures market and the spot Bitcoin market.”
While the SEC has approved a number of Bitcoin Futures ETFs that subject buyers to the potential future value of BTC, it has so far rejected every application for a spot Bitcoin investment product, citing concerns of exposing investors to potential fraud and market manipulation.
