Grayscale will convert its Bitcoin Trust (GBTC) to an ETF

Grayscale will convert its Bitcoin Trust (GBTC) to an ETF

Analysts at Bloomberg Intelligence say there’s a 90% chance of SEC approval by around Jan. 10 2024

A spot bitcoin ETF would give investors exposure to the world’s largest cryptocurrency by market capitalization without having to own it.

The SEC has chosen not to appeal a court order requiring a review of Grayscale’s application to convert its Bitcoin Trust into a spot Bitcoin ETF. This move significantly boosts the likelihood of SEC approval for spot Bitcoin ETFs, with a 90% probability estimated by market experts.

$10 trillion BlackRock filed for Bitcoin spot ETF.

$1.4 trillion giant Deutsche Bank applied for license to offer Bitcoin custody services.

Fidelity, Charles Schwab, Citadel launch a #Bitcoin exchange.