Investing.com - Financial Markets Worldwide
🤔 This week: TSLA Q3 earnings report - is now the right time to buy the EV giant?Explore TSLA Data

Grayscale’s BTC ETF May be Delayed on Competition Concerns: Analyst

Published 12/19/2023, 03:09 PM
Updated 12/19/2023, 03:15 PM
© Reuters. Grayscale’s BTC ETF May be Delayed on Competition Concerns: Analyst

  • The SEC may delay Grayscale’s Bitcoin ETF approval due to anti-competition concerns.

  • The company is the largest Bitcoin trust firm, with over $26 billion in assets under management.

  • The SEC is concerned Grayscale’s significant Bitcoin trust fund holdings may prevent a fair launch.

Amid rising speculation that the U.S. Securities and Exchange Commision will approve a spot Bitcoin exchange-traded fund (ETF), Bloomberg analyst Eric Balchunas suggested that Grayscale’s ETF may be forced to wait behind others to launch.

In a post shared on X (formerly Twitter), Balchunas noted the size of Grayscale’s Bitcoin trust is a concern for the U.S. Securities and Exchange Commission (SEC). While he expects Grayscale’s bid to convert the trust into an ETF to succeed, he opined that it may not launch at the same time as spot Bitcoin ETFs planned by Grayscale’s competitors.

According to the analyst, the SEC is concerned about ensuring “fair competition at launch and sees GBTC as unfair because of their embedded aum/volume.” Grayscale is currently the largest Bitcoin trust company, with over $26 billion in assets under management.

On the other hand, …

The post Grayscale’s BTC ETF May be Delayed on Competition Concerns: Analyst appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.