Coinspeaker
US Regulators Can Accommodate Spot Bitcoin ETF, Says Bernstein
In its latest research report on Monday, June 26, private wealth management giant Bernstein stated that Grayscale‘s dominant position in the crypto market could be under threat following BlackRock‘s recent filing of the spot Bitcoin ETF with the US SEC earlier this month.
Currently, Grayscale is the world’s largest crypto asset manager running a $19 billion BTC Trust (GBTC). Bernstein stated that Grayscale earns a total of around $380 million in annualized fees “despite the product being inefficient, illiquid, and has traded at a significant discount over the last 28 months”.
Grayscale has been willing to convert its GBTC product into a spot Bitcoin ETF. The asset manager has also dragged the US SEC to court over its refusal to approve this product.
While the US SEC has given a go-ahead to the Bitcoin futures ETFs in the past, it has denied more than a dozen applications for the spot Bitcoin ETFs citin
We współpracy z: https://www.coinspeaker.com/spot-bitcoin-etf-bernstein/
