{"id":427889,"date":"2022-04-07T11:45:28","date_gmt":"2022-04-07T08:45:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/grayscale-ceo-pleads-bitcoin-spot-etf-as-sec-backs-third-btc-futures-etf\/"},"modified":"2022-04-07T11:45:28","modified_gmt":"2022-04-07T08:45:28","slug":"grayscale-ceo-pleads-bitcoin-spot-etf-as-sec-backs-third-btc-futures-etf","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/grayscale-ceo-pleads-bitcoin-spot-etf-as-sec-backs-third-btc-futures-etf\/","title":{"rendered":"# Grayscale CEO pleads Bitcoin spot ETF as SEC backs third BTC Futures ETF"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35555dd42b0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35555dd42b0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/grayscale-ceo-pleads-bitcoin-spot-etf-as-sec-backs-third-btc-futures-etf\/#%E2%80%9D_Grayscale_CEO_pleads_Bitcoin_spot_ETF_as_SEC_backs_third_BTC_Futures_ETF_%E2%80%9C\" >&#8221; Grayscale CEO pleads Bitcoin spot ETF as SEC backs third BTC Futures ETF  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Grayscale_CEO_pleads_Bitcoin_spot_ETF_as_SEC_backs_third_BTC_Futures_ETF_%E2%80%9C\"><\/span>&#8221; Grayscale CEO pleads Bitcoin spot ETF as SEC backs third BTC Futures ETF  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Institutional investors rejoice, there is one more way to gain exposure to Bitcoin (BTC). The United States Securities and Exchange Commission (SEC) announced overnight the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/rules\/sro\/nysearca\/2022\/34-94620.pdf\">approval<\/a> of a fourth Bitcoin futures exchange-traded fund (ETF).<\/p>\n<p>Fund group Teucrium is behind the most 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 Bitcoin Futures ETF. The ETF joins a growing number of approved futures ETFs, complementing ProShares, Valkyrie, and VanEck Bitcoin Futures ETFs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/8248dfe1-5730-46f4-b205-285f299f4296.png\"><figcaption style=\"text-align: center;\">The SEC filing for the Teucrium ETF. Source: SEC.gov<\/figcaption><\/figure>\n<p>Every Bitcoin spot ETF has been rejected to date, however, for one invested observer, the way in which the approval was made could be a boon for expectant spot investors.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The plot thickens on the path to $GBTC\u2019s spot <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ETF?src=hash&amp;ref_src=twsrc%5Etfw\">#ETF<\/a> conversion\u2026<\/p>\n<p>\u2014 Sonnenshein (@Sonnenshein) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Sonnenshein\/status\/1511890201752350729?ref_src=twsrc%5Etfw\">April 7, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In a Tweet thread, Grayscale CEO Michael Sonnenshein once again banged the drum for a Bitcoin spot ETF. 71st on the list of Cointelegraph\u2019s Top 100, Sonnenshein manages the Grayscale Bitcoin Trust (GBTC) Trust, one of the main avenues for buying Bitcoin in the traditional world. <\/p>\n<p>Grayscale CEO Michael Sonnensheinin tweeted that \u201cif the SEC is comfortable with a Bitcoin futures ETF, they must also be comfortable with a spot Bitcoin ETF.\u201d<\/p>\n<p>His argument surmises that as \u201call Bitcoin futures ETFs are created equal,\u201d and that the Teucrium falls under a 1933 act, not the 1940 act which the other three ETFs fall under, then the argument for filing a Bitcoin spot ETF becomes \u201cstronger.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Therefore, if the SEC is comfortable with a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> futures <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ETF?src=hash&amp;ref_src=twsrc%5Etfw\">#ETF<\/a>, they must also be comfortable with a spot Bitcoin ETF. And they can no longer justifiably cite the \u201840 Act as being the differentiating factor.<\/p>\n<p>\u2014 Sonnenshein (@Sonnenshein) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Sonnenshein\/status\/1511890265879031813?ref_src=twsrc%5Etfw\">April 7, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Sonnenshein has been a proponent and protagonist for the creation of a Bitcoin spot ETF for some time; the company shared plans to convert the GBTC Trust into an ETF in October 2021. With over $35 billion in assets under management, the GBTC Trust is the largest in the legacy finance world\u2013the conversion to a spot ETF would be consequential. <\/p>\n<p>A Bloomberg analyst, Eric Balchunas shares his view that it&#8217;s a &#8220;good sign for spot&#8221;, meaning a Bitcoin spot ETF.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: SEC Approves Teucrium Bitcoin Futures ETF. Notable bc it was filed under the 33 Act, which Genz has said doesn&#8217;t have enough inv protections vs 40 Act. So poss this is good sign for spot, altho we still think exchanges need regs bf he will green light. h\/t <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CoinDesk?ref_src=twsrc%5Etfw\">@CoinDesk<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/SZMkuMrASc\">pic.twitter.com\/SZMkuMrASc<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1511822096204283909?ref_src=twsrc%5Etfw\">April 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em><u>Related: <\/u><\/em><\/strong><strong><em>SEC rejects ARK 21Shares spot Bitcoin ETF application<\/em><\/strong><\/p>\n<p>However, while investors wait with bated breath for a Bitcoin Spot ETF, analyst Doomberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/doomberg.substack.com\/p\/a-spot-of-bother-for-bitcoin?s=r\">suggests<\/a> that the issue may not relate to different acts but due to the fact that futures contracts are \u201csettled in cash.\u201d<\/p>\n<p>Gary Gensler, the Chairperson for the SEC may in fact be blocking the spot ETFs because \u201cas long as funds flow into spot ETFs faster than they are redeemed, the net effect provides US dollar exit liquidity to those looking to cash out their Bitcoin.\u201d<\/p>\n<p>In the meantime, ProShares recently filed with the SEC for its Short Bitcoin Strategy ETF. The Bitcoin spot ETF saga continues. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/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-ceo-pleads-bitcoin-spot-etf-as-sec-backs-third-btc-futures-etf\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Grayscale CEO pleads Bitcoin spot ETF as SEC backs third BTC Futures ETF &#8220; Institutional investors rejoice, there is one more way to gain exposure to Bitcoin (BTC). The United States Securities and Exchange Commission (SEC) announced overnight the approval of a fourth Bitcoin futures exchange-traded fund (ETF). Fund group Teucrium is behind the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":427890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvODlmOGU5MjUtNmZhMS00YTdiLTgzOWEtMDZjOTE5YjM1ZDUwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74858,75849,75238,76550,74898,74355,117,70610,70934],"class_list":["post-427889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-regulation","tag-etf","tag-financial-services","tag-grayscale","tag-sec","tag-adoption","tag-business","tag-finance","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/427889","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=427889"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/427889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/427890"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=427889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=427889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=427889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}