Craig Salm, Chief Legal Officer, Grayscale discusses the SEC’s Concerns with Bitcoin ETFs

ETF TV News #106 Craig Salm, Chief Legal Officer, Grayscale discusses the SEC’s Concerns with Spot Bitcoin ETFs with Margareta Hricova and Deborah Fuhr on ETF TV. #PressPlay

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Grayscale filed to convert the Grayscale Bitcoin Trust “GBTC” a grantor trust which was launched on Sept 25, 2013 into a spot Bitcoin ETF for the second time, on October 19, 2021. The Grayscale Bitcoin Trust “GBTC” was launched on Sept 25, 2013 and has US$27 Bn in assets.

On February 4, 2022 the SEC instituted proceedings to decide whether to approve or reject the ETF on NYSE Arca exchange and asked for public comments on the proposal. The SEC is allowing the public to comment on these issues, and has given them 21 days to do so, with an additional 14 days for responses to those comments.

ETFGI reported the global ETFs industry gathered US$76.40 billion of net inflows in January 2022. Due to market declines in January the assets invested in the global ETFs industry decreased by 3.9% from a record US$10.27 trillion at the end of December 2021, to US$9.87 trillion, according to ETFGI’s January 2022 Global ETFs and ETPs industry landscape insights report, the monthly report which is part of annual paid-for research subscription service.

Last week there were 34 new listings form 9 issuers and 33 new cross-listings.

Issuers last week include: 21Shares, FlexShares, Global X ETFs, Goldman Sachs Asset Management, Hamilton Capital, Invesco, iShares, Vanguard, WisdomTree

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Published on February 16, 2022

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