{"id":354301,"date":"2021-10-18T08:17:45","date_gmt":"2021-10-18T05:17:45","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/grayscale-hints-at-plans-to-convert-bitcoin-trust-into-btc-settled-etf\/"},"modified":"2021-10-18T08:17:45","modified_gmt":"2021-10-18T05:17:45","slug":"grayscale-hints-at-plans-to-convert-bitcoin-trust-into-btc-settled-etf","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/grayscale-hints-at-plans-to-convert-bitcoin-trust-into-btc-settled-etf\/","title":{"rendered":"# Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF"},"content":{"rendered":"<p>&#8220;<strong># Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvNzQ1MDA5YTUtNGM2Zi00NTBhLTkxYzItNDA2Y2M3ZWQxMGViLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Institutional investment giant Grayscale is reportedly considering converting its Bitcoin Trust into a physically settled exchange-traded fund (ETF).<\/p>\n<p>On Oct. 17, Barry Silbert, the CEO of Grayscale\u2019s parent company Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin Trust into a spot-settled Bitcoin fund. <\/p>\n<p>After having taken to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> to criticize the cash-settled Bitcoin futures ETF recently <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved by the U.S. Securities and Exchange Commission (SEC), Bitcoin commentator Preston Pysh chimed in to ask Silbert when Grayscale\u2019s Bitcoin Trust would be converted into a BTC-settled ETF. \u201cStay tuned,\u201d Silbert responded.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">stay tuned<\/p>\n<p>\u2014 Barry Silbert (@BarrySilbert) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BarrySilbert\/status\/1449564387174494208?ref_src=twsrc%5Etfw\">October 17, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>However, Grayscale Bitcoin Trust investors appear to have been unsettled by Silbert\u2019s remarks, with Twitter user \u201csvrgnindividual\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/svrgnindividual\/status\/1449710065729085445\">questioning<\/a> what a restructure would mean for investors holding shares in Grayscale\u2019s Bitcoin Trust.<\/p>\n<p>\u201cWhat happens to us Grayscale investors once the spot ETF is approved? Is our investment converted into ETF shares?\u201d they tweeted.<\/p>\n<p>Rumors of Grayscale\u2019s purported ambitions for a Bitcoin ETF began circulating late week after a CNBC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2021\/10\/15\/grayscale-investments-close-to-filing-application-for-spot-bitcoin-etf-source-says-.html\">report<\/a> citing anonymous insiders claimed that Grayscale was waiting for the Securities and Exchange Commission to finally approve a Bitcoin ETF. <\/p>\n<p>On Oct. 15, the SEC announced it had <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/0001174610\/000168386321006053\/f10032d1.htm\">accepted<\/a> the registration of securities from ProShares Trust\u2019s futures-based Bitcoin (BTC) exchange-traded fund. ProShares\u2019 ETF offers investors exposure to contracts that speculate on the future price of BTC that are settled in cash. <\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Grayscale Bitcoin Trust FUD is now over as the last GBTC unlock totals just 58 BTC<\/em><\/strong><\/p>\n<p>Despite the ETF\u2019s approval being cited as the primary catalyst for Bitcoin\u2019s recent bullish market action, many analysts have criticized the fund for its cash-settled structure, instead advocating for the SEC to approve a Bitcoin ETF that is backed by and settled in BTC.<\/p>\n<p>According to Grayscale\u2019s latest holdings<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Grayscale\/status\/1449113120417492993\"> update<\/a> on Oct. 15, the firm boasts $52.6 billion in assets under management (AUM) \u2014 73% of which is held in the Bitcoin Trust. The data suggests that Grayscale\u2019s Bitcoin stash comprises roughly 620,000 BTC or 3.3% of Bitcoin\u2019s total supply.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/grayscale-hints-at-plans-to-convert-bitcoin-trust-into-btc-settled-etf\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF &#8221; 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\u2019s parent company Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin&#8230;<\/p>\n","protected":false},"author":1,"featured_media":354302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvNzQ1MDA5YTUtNGM2Zi00NTBhLTkxYzItNDA2Y2M3ZWQxMGViLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75849,76550],"class_list":["post-354301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-etf","tag-grayscale"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/354301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=354301"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/354301\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/354302"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=354301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=354301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=354301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}