The premium of the Grayscale Bitcoin Trust sinks to 28 %because the tug of tugs with the Sec continues

Die Prämie des Grayscale Bitcoin Trust (GBTC) sinkt weiterhin, da das Tauziehen mit der US-Börsenaufsichtsbehörde Securities and Exchange Commission (SEC) weitergeht. Im Laufe des Jahres 2023 hat sich der GBTC von seinen Tiefstständen im Jahr 2022 um etwa 6% erholt. Allerdings wurde der Rabattsatz des GBTC in den letzten sechs Monaten um fast 50% gesenkt, wie aus Aufzeichnungen von YCharts hervorgeht. Aktuell liegt der Diskontsatz des Grayscale Bitcoin Trust bei 10%. Angesichts der Veränderungen hat Grayscale die Umstellung auf einen Spot-Bitcoin-ETF vorgeschlagen. Die SEC hat jedoch diesen Vorschlag bisher zweimal abgelehnt. Die Ablehnung führte dazu, dass Grayscale im Juni 2022 …
The premium of the Grayscale Bitcoin Trust (GBTC) continues to drop because the tug of war continues with the US stock exchange supervisory authority Securities and Exchange Commission (Sec). In the course of 2023, the GBTC recovered by about 6% of its lows in 2022. However, the GBTC discount rate has been reduced by almost 50% in the past six months, as can be seen from Ycharts records. The discount rate of the Grayscale Bitcoin Trust is currently 10%. In view of the changes, Grayscale proposed the switch to a spot bitcoin ETF. However, the SEC has so far rejected this proposal twice. The rejection caused Grayscale in June 2022 ...
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The premium of the Grayscale Bitcoin Trust (GBTC) continues to drop because the tug of war continues with the US stock exchange supervisory authority Securities and Exchange Commission (Sec). In the course of 2023, the GBTC recovered by about 6% of its lows in 2022. However, the GBTC discount rate has been reduced by almost 50% in the past six months, as can be seen from Ycharts records. The discount rate of the Grayscale Bitcoin Trust is currently 10%.

In view of the changes, Grayscale proposed the changeover to a spot bitcoin ETF. However, the SEC has so far rejected this proposal twice. The rejection caused Grayscale to file a lawsuit against the regulatory authority in June 2022. The lawsuit is still pending.

In order to put pressure on the SEC, Grayscale has now taken another energetic measure. The company submitted a character to the DC Circuit to criticize the decision of the SEC. Grayscale emphasizes that the SEC has approved Leveraged Bitcoin ETFs, but refused spot-bitcoin ETFs such as the GBTC. Grayscale sees this as discrimination and demands that trading with spot bitcoin ETFs are approved.

In this context, Grayscale points out that the approved led ETFs are more risky than spot ETFs. The company mentions the 2x Bitcoin Strategy ETF (Bitx) from Volatility Shares as an example. This ETF was approved by the SEC and exposes investors to an even more risky investment product as conventional Bitcoin futures traded products (ETPS).

Grayscale hopes that the regulatory authority will retain its negative attitude towards Spot-BTC-ETFs and allow trade with such ETFs. Donald B. Raffrilli Jr., Senior lawyer of Grayscale, emphasizes in his report that the rejection is discriminatory and the SEC may allow trading with proposed spot-bitcoin ETPs such as that of Grayscale to end this discrimination.

It remains to be seen how the SEC reacts to the current developments and whether the GBTC will be converted into a spot bitcoin ETF in the future. The decisions of the SEC may have an impact on the cryptocurrency market and could affect the trust of investors.

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Die Prämie des Grayscale Bitcoin Trust (GBTC) sinkt weiterhin, da das Tauziehen mit der US-Börsenaufsichtsbehörde Securities and Exchange Commission (SEC) weitergeht. Im Laufe des Jahres 2023 hat sich der GBTC von seinen Tiefstständen im Jahr 2022 um etwa 6% erholt. Allerdings wurde der Rabattsatz des GBTC in den letzten sechs Monaten um fast 50% gesenkt, wie aus Aufzeichnungen von YCharts hervorgeht. Aktuell liegt der Diskontsatz des Grayscale Bitcoin Trust bei 10%. Angesichts der Veränderungen hat Grayscale die Umstellung auf einen Spot-Bitcoin-ETF vorgeschlagen. Die SEC hat jedoch diesen Vorschlag bisher zweimal abgelehnt. Die Ablehnung führte dazu, dass Grayscale im Juni 2022 …
The premium of the Grayscale Bitcoin Trust (GBTC) continues to drop because the tug of war continues with the US stock exchange supervisory authority Securities and Exchange Commission (Sec). In the course of 2023, the GBTC recovered by about 6% of its lows in 2022. However, the GBTC discount rate has been reduced by almost 50% in the past six months, as can be seen from Ycharts records. The discount rate of the Grayscale Bitcoin Trust is currently 10%. In view of the changes, Grayscale proposed the switch to a spot bitcoin ETF. However, the SEC has so far rejected this proposal twice. The rejection caused Grayscale in June 2022 ...

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