Grayscale looks to be seeking to restructure its Bitcoin Trust into a physically-backed fund after the SEC approved a Bitcoin futures ETF.
Institutional investment giant Grayscale is reportedly considering converting its Bitcoin Trust into a physically settled exchange-traded fund (ETF).On Oct. 17, Barry Silbert, the CEO of Grayscale’s parent company Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin Trust into a spot-settled Bitcoin fund. After having taken to Twitter to criticize the cash-settled Bitcoin futures ETF recently approved by the U.S. Securities and Exchange Commission (SEC), Bitcoin commentator Preston Pysh chimed in to ask Silbert when Grayscale’s Bitcoin Trust would be converted into a BTC-settled ETF. “Stay tuned,” Silbert responded.stay tuned— Barry Silbert (@BarrySilbert) October 17, 2021
However, Grayscale Bitcoin Trust investors appear to have been unsettled
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