{"id":57791,"date":"2022-02-15T13:36:52","date_gmt":"2022-02-15T11:36:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=57791"},"modified":"2025-09-04T13:33:09","modified_gmt":"2025-09-04T10:33:09","slug":"grayscales-bitcoin-etf-gains-public-support","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscales-bitcoin-etf-gains-public-support\/","title":{"rendered":"Grayscale&#8217;s Bitcoin ETF gains public support"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC)<a href=\"https:\/\/www.sec.gov\/comments\/sr-nysearca-2021-90\/srnysearca202190.htm\"> \u0437\u0430\u043f\u0440\u043e\u0441\u0438\u043b\u0430<\/a> public comments regarding a spot<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\"> Bitcoin ETF<\/a> from Grayscale Investments. According to Bloomberg Intelligence analyst Eric Balchunas, 95% support launching the instrument.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Just glancing through the many comments from ppl to the SEC re converting <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GBTC<\/a> to an ETF and 95% are in favor of it and most using real names and pointing to the stupefying fact that futures ETF ok but spot not. eg: <a href=\"https:\/\/t.co\/j15iNYnh8R\">pic.twitter.com\/j15iNYnh8R<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1493310327328591875?ref_src=twsrc%5Etfw\">February 14, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In October 2021, the founder and CEO of Digital Currency Group, the parent company of Grayscale Investments,<a href=\"https:\/\/u1f987.com\/en\/news\/dcg-chief-confirms-plans-to-convert-grayscales-bitcoin-trust-into-an-etf\"> Barry Silbert confirmed plans<\/a> to convert Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund.<\/p>\n<p>According to a screenshot provided by the analyst, after <a href=\"https:\/\/u1f987.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\">approval of a futures ETF<\/a> \u201cthere&#8217;s no reason to ban a pure Bitcoin ETF with physical backing.\u201d The author noted that the United States \u201cis already lagging behind other countries, <a href=\"https:\/\/u1f987.com\/en\/news\/canada-registers-bitcoin-etf-ahead-of-the-united-states\"> such as Canada<\/a>,\u201d in approving the spot variant.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe need to stay competitive [\u2026]. Bitcoin at present represents a protected asset class that has never been hacked and has delivered excellent profits year after year,\u201d the comment reads.<\/p>\n<\/blockquote>\n<p>In another Balchunas tweet, he quotes an investor who put savings into GBTC. In his view, the SEC \u201cprotects the wealthy.\u201d<\/p>\n<p>One participant noted that the equity market can be just as manipulated and volatile as cryptocurrency. As an example, he cited<a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-at-the-centre-of-the-gamestop-dogecoin-and-reddit-trader-scandal\"> the GameStop incident<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Here\u2019s one pointing out how the stock market can be just as manipulated and volatile as crypto <a href=\"https:\/\/t.co\/krToLZ36Gw\">pic.twitter.com\/krToLZ36Gw<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1493311362960924672?ref_src=twsrc%5Etfw\">February 14, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On October 19, 2021, Grayscale<a href=\"https:\/\/u1f987.com\/en\/news\/dcg-chief-confirms-plans-to-convert-grayscales-bitcoin-trust-into-an-etf\"> filed an application<\/a> to convert the digital-gold trust into an exchange-traded fund based on the leading cryptocurrency.<\/p>\n<p>On December 17, the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/sec-delays-decisions-on-bitwise-and-grayscale-bitcoin-etf-applications\">delayed<\/a> a decision until February 6, 2022.<\/p>\n<p>Earlier the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-futures-based-bitcoin-etfs-from-vaneck-and-valkyrie-investments\">approved<\/a> applications to launch Bitcoin futures ETFs from VanEck and Valkyrie Investments, as well as <a href=\"https:\/\/u1f987.com\/en\/news\/sec-quietly-approves-first-futures-based-bitcoin-etf\">ProShares<\/a>. Grayscale Investments called the regulator\u2019s actions \u201c<a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-suggests-the-sec-may-have-violated-the-law-in-approving-a-futures-based-bitcoin-etf\">arbitrary and unlawful<\/a>.\u201d<\/p>\n<p>In December, the regulator <a href=\"https:\/\/u1f987.com\/en\/news\/sec-rejects-wisdomtrees-bid-to-launch-a-spot-bitcoin-etf\">rejected<\/a> WisdomTree\u2019s bid to launch a spot Bitcoin ETF. Earlier the Commission <a href=\"https:\/\/u1f987.com\/en\/news\/sec-rejects-vanecks-application-to-launch-a-spot-bitcoin-etf\">took<\/a> a similar decision regarding a comparable proposal from VanEck. <\/p>\n<p>In February 2022, the SEC delayed a decision on Grayscale&#8217;s application to study the firm&#8217;s ability to curb fraudulent or manipulative practices in the spot market.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news stream, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) requested public comments regarding Grayscale Investments&#8217; spot Bitcoin ETF. According to Bloomberg Intelligence analyst Eric Balchunas, 95% support launching the instrument.<\/p>\n","protected":false},"author":1,"featured_media":57792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[943,1211,26],"class_list":["post-57791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-grayscale-investments","tag-stock-market","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/57791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=57791"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/57791\/revisions"}],"predecessor-version":[{"id":57793,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/57791\/revisions\/57793"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/57792"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=57791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=57791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=57791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}