Grayscale Investments' boss stated the firm has investors all over the world counting on it to “do the right thing for them”
He explained that this act ensures the regulator doesn’t show “favoritism,” or act “arbitrary,” adding that by approving Bitcoin Futures ETF, whilst rejecting “GBTC's conversion,” the SEC has acted “arbitrarily.”
He stated that there is actually a “couple billion dollars” of capital that would immediately go right back into, on an overnight basis, as the fund would"bleed back" up to its net asset value, upon being approved as a spot Bitcoin ETF. He reiterated that Grayscale is in the process of “suing the SEC now,” and could have a decision challenging the SEC denial of its initial application, by as late as “fall 2023.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | Sequoia Pares Back China Tech Investments as U.S. National-Security Concerns GrowVenture-capital firm Sequoia is screening its China arm’s investments in light of expected U.S. measures to stop dollars from helping China develop sensitive technology
Read more »
Buffett's Berkshire profit falls on investments, currenciesWarren Buffett's Berkshire Hathaway Inc on Saturday said fourth-quarter profit fell, reflecting lower gains from investments and foreign currency exchange losses as the U.S. dollar lost value.
Read more »
Church of Jesus Christ of Latter-day Saints hid investments for 22 years, SEC saysTo resolve the matter, nonprofit firm Ensign Peak Advisors agreed to pay a $4 million penalty and the church agreed to pay $1 million. The church said it will pay out of investment returns on a portfolio that some estimate is worth more than $100 billion.
Read more »
Tesla remains the benchmark for the EV market, former Ford CEO saysTesla is still the benchmark in EVs, and some rivals will fail or be bought, says former Ford CEO
Read more »
Analysis: Goldman Sachs CEO, after missteps, to take center stage at investor dayGoldman Sachs Group Inc's Chief Executive David Solomon faces a reality check from investors on Tuesday as he presents plans to reach key financial goals.
Read more »
Metaverse CEO Says ChatGPT Is Speeding Up Timeline for Emulating Dead PeopleOpenAI's ChatGPT might be speeding up the process of getting a realistic, AI-powered digital avatar of your dead loved one to market.
Read more »