August 11, 2022

Grayscale publishes roadmap for turning its products into crypto ETFs

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After several attempts in previous years, Grayscale has renewed its push to release a Bitcoin exchange-traded fund on American asset markets. According to a Monday roadmap, two of its funds, GBTC and ETHE, are on the short-list to become proper ETFs. However, the company has not indicated any concrete efforts, such as filing a new request with the SEC, nor has it provided meaningful timelines for these plans.

Grayscale is one of the major providers of cryptocurrency exposure in traditional markets, operating several trust funds for major cryptocurrencies. These funds hold cryptocurrencies, such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and many others, and issue shares that are expected to reflect the value of the underlying assets.

According to Grayscale’s roadmap, each trust fund falls into four categories of development. The first is the “private placement” phase, where the funds are only available for sale and purchase in over-the-counter deals with the company.

The second category is for publicly-listed shares on secondary markets, meaning that the trust funds receive a ticker symbol and become tradable by the public. Trust funds for Bitcoin Cash,Title: Grayscale publishes roadmap for turning its products into crypto ETFs
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Published Date: Mon, 05 Apr 2021 15:17:00 +0100