{"id":45340,"date":"2022-02-23T11:44:08","date_gmt":"2022-02-23T10:44:08","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=45340"},"modified":"2022-02-23T11:44:08","modified_gmt":"2022-02-23T10:44:08","slug":"grayscale-asks-investors-for-help-in-getting-the-sec-to-reconsider-its-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/grayscale-asks-investors-for-help-in-getting-the-sec-to-reconsider-its-bitcoin-etf\/","title":{"rendered":"Grayscale Asks Investors for Help in Getting the SEC to Reconsider its Bitcoin ETF"},"content":{"rendered":"<p style=\"text-align: justify\"><strong><a href=\"https:\/\/grayscale.com\/\" target=\"_blank\" rel=\"noopener\">Grayscale<\/a> asks investors to step up its efforts to bring the idea of a spot Bitcoin ETF to reality<\/strong> by urging the investors to submit comments to the US SEC on its Bitcoin ETF application.<\/p>\n<p style=\"text-align: justify\"><!--more--><\/p>\n<p style=\"text-align: justify\">In a <a href=\"https:\/\/www.globenewswire.com\/news-release\/2022\/02\/22\/2389876\/0\/en\/CORRECTION-Grayscale-Investments-Launches-Campaign-to-Encourage-American-Investors-to-Advocate-for-a-Spot-Bitcoin-ETF.html\" target=\"_blank\" rel=\"noopener\">press release<\/a> on Tuesday, February 22, <strong>Grayscale Investments<\/strong>, the world\u2019s largest digital currency asset manager, announced the launch of a campaign that asked US investors to help it in getting the <strong>US Securities and Exchange Commission (SEC)<\/strong> to reconsider its filing to convert <strong>Grayscale Bitcoin Trust (GBTC)<\/strong> to a spot Bitcoin ETF.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today <a href=\"https:\/\/twitter.com\/Grayscale?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@Grayscale<\/a> announced the launch of a new public campaign to encourage American investors to submit comments on our application with the SEC to convert <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$GBTC<\/a> to a Spot Bitcoin ETF.<\/p>\n<p>&mdash; Sonnenshein (@Sonnenshein) <a href=\"https:\/\/twitter.com\/Sonnenshein\/status\/1496107890209443845?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">February 22, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">Grayscale CEO Michael Sonnenshein, also said:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This campaign aims to educate and inspire the investment community to take action and make their voices heard on this historic decision.<\/p>\n<p>&mdash; Sonnenshein (@Sonnenshein) <a href=\"https:\/\/twitter.com\/Sonnenshein\/status\/1496107893334102019?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">February 22, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: center\"><em>\u201cThis campaign aims to educate and inspire the investment community to take action and make their voices heard on this historic decision.\u201d<\/em><\/p>\n<h2 style=\"text-align: justify\"><strong>Grayscale Bitcoin ETF Campaign<\/strong><\/h2>\n<p style=\"text-align: justify\"><strong>Grayscale filed with the SEC for spot Bitcoin ETF on same day when the world\u2019s first Bitcoin Futures ETF was approved in the US on October 19, 2021<\/strong>. In November 2021, the US securities regulator rejects several Spot Bitcoin ETF applications.<\/p>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-18242 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/cropped-bitcoin-etf2-1.jpg\" alt=\"bitcoin ETF\" width=\"696\" height=\"391\" \/><\/p>\n<p style=\"text-align: justify\">The decision on Grayscale\u2019s filing for a spot Bitcoin ETF was first delayed in December 2021. As Crypto Economy <a href=\"https:\/\/crypto-economy.com\/sec-delays-decision-on-grayscale-spot-bitcoin-etf-requests-public-comment\/\" target=\"_blank\" rel=\"noopener\">reported<\/a>, on February 4,2022, <strong>the regulator again postponed its decision on whether to approve Grayscale\u2019s application for a spot Bitcoin ETF and turned to public to get additional insights on asset manager\u2019s proposal.<\/strong><\/p>\n<p style=\"text-align: justify\">According to SEC, the proposed rule change to convert GBTC to a spot Bitcoin ETF by NYSE Arca was <a href=\"https:\/\/www.sec.gov\/rules\/sro\/nysearca\/2022\/34-94151.pdf?linkId=153309447\" target=\"_blank\" rel=\"noopener\">published<\/a> for comment in the Federal Register on November 8, 2021. As per 240-day review period, <strong>the SEC should reach a decision before July 6, 2022.<\/strong><\/p>\n<p style=\"text-align: justify\">Now the firm has asked investors and public to write to the SEC to bring this much-anticipated crypto milestone to reality. As part of this campaign, Grayscale has setup a <a href=\"https:\/\/grayscale.com\/comment\/?utm_source=TWITTER&amp;utm_medium=social&amp;utm_term=other&amp;utm_content=6383529239&amp;utm_campaign=!!!quick+post&amp;linkId=153309145\" target=\"_blank\" rel=\"noopener\">dedicated page<\/a> on its website that inspires and contains instructions on how to submit comments to the SEC.<\/p>\n<h2 style=\"text-align: justify\"><strong>Grayscale Investors Are Already Speaking Out<\/strong><\/h2>\n<p style=\"text-align: justify\">According to the reports, following the February 4 public solicitation, the SEC has received over 170 letters from Grayscale investors in February alone. Michael Sonnenshein said:<\/p>\n<p style=\"text-align: center\"><em>\u201cThe hundreds of comments already submitted on behalf of GBTC\u2019s conversion to an ETF further demonstrates that this issue is of the utmost importance to investors. It is clear we have reached a tipping point in the adoption of digital assets. Maintaining the regulatory status quo may feel like the safe option, but the reality is that failing to keep pace with change is the far riskier path for main street investors and our country.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grayscale asks investors to step up its efforts to bring the idea of a spot Bitcoin ETF to reality by urging the investors to submit comments to the US SEC on its Bitcoin ETF application.<\/p>\n","protected":false},"author":14,"featured_media":45347,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4602,5038],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/45340"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=45340"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/45340\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/45347"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=45340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=45340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=45340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}