{"id":38743,"date":"2021-03-11T16:07:57","date_gmt":"2021-03-11T14:07:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=38743"},"modified":"2025-08-30T06:11:56","modified_gmt":"2025-08-30T03:11:56","slug":"simplify-files-for-etf-with-bitcoin-exposure-via-grayscale-bitcoin-trust","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/simplify-files-for-etf-with-bitcoin-exposure-via-grayscale-bitcoin-trust\/","title":{"rendered":"Simplify files for ETF with Bitcoin exposure via Grayscale Bitcoin Trust"},"content":{"rendered":"

New York-based firm <\/span>Simplify Exchange Traded Funds<\/span> has filed an <\/span>application<\/span><\/a> to list an exchange-traded fund (ETF). It is expected to invest up to 15% in Bitcoin via the Grayscale Bitcoin Trust.<\/span><\/p>\n

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The U.S. Securities and Exchange Commission remains sceptical about launching a \u201cpure\u201d Bitcoin ETF. <\/span>Earlier applications were filed by <\/span>NYDIG<\/span><\/a>, <\/span>Bitwise<\/span><\/a>, <\/span>VanEck<\/span><\/a> and <\/span>Valkyrie Digital Assets<\/span><\/a>, but as of writing the regulator had not approved any of them.<\/span><\/p>\n

In its investment strategy, the firm says that GBTC holdings up to 15% of assets under management (AUM) via a controlled subsidiary would raise the likelihood of access to cryptocurrencies. <\/span>Simplify Exchange Traded Funds <\/span>will be able to satisfy U.S. tax-law requirements for regulated investment companies.<\/span><\/p>\n

According to the prospectus for the <\/span>Simplify U.S. Equity PLUS Bitcoin ETF<\/span>, up to 85% of assets under management would be allocated to the purchase of American-listed stocks.<\/span><\/p>\n

If approved, the ETF would list on Nasdaq under the ticker SPBC.<\/span><\/p>\n

The management fee will be 0.5%. The Bank of New York Mellon will serve as administrator, custodian and transfer agent. The oldest bank in the United States recently announced an expansion of its services <\/span>with bitcoin operations<\/span><\/a> and other digital assets.<\/span><\/p>\n

As of March 10, assets under management at Grayscale Investments stood at $43.3 billion. For GBTC, that figure was $36.3 billion.<\/span><\/p>\n

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03\/10\/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.<\/p>\n

Total AUM: $43.3 billion$BTC<\/a> $BCH<\/a> $ETH<\/a> $ETC<\/a> $ZEN<\/a> $LTC<\/a> $XLM<\/a> $ZEC<\/a> pic.twitter.com\/68xbZw1i0B<\/a><\/p>\n

\u2014 Grayscale (@Grayscale) March 10, 2021<\/a><\/p>\n<\/blockquote>\n