🎉 #Gate xStocks Trading Share# Posting Event Is Ongoing!
📝 Share your trading experience on Gate Square to unlock $1,000 rewards!
🎁 5 top Square creators * $100 Futures Voucher
🎉 Share your post on X – Top 10 posts by views * extra $50
How to Participate:
1️⃣ Follow Gate_Square
2️⃣ Make an original post (at least 20 words) with #Gate xStocks Trading Share#
3️⃣ If you share on Twitter, submit post link here: https://www.gate.com/questionnaire/6854
Note: You may submit the form multiple times. More posts, higher chances to win!
📅 End at: July 9, 16:00 UTC
Show off your trading on Gate Squ
New spot Bitcoin ETF update from Grayscale to SEC
Grayscale, which wants to convert its GBTC shares into an exchange-traded fund (ETF), has filed a new update with the SEC. The news was given by Bloomberg ETF expert James Seyffart via account X.
"Not a lot of details
In a tweet, Seyffart said, "This is one of the updates requested for GBTC to be converted into ETFs, but I don't see a lot of important details."
Balchunas criticized more harshly
Eric Balchunas, another ETF analyst at Bloomberg like Seyffart, criticized the update more bluntly. Balchunas stated that many points remain unclear, from who the authorized participant is to the transaction fee, and said:
"There was clear language that payments would be made in cash, but the place where the name of the authorized participant should have been left blank. I don't understand why the SEC would want to see such an update. Also, as far as I can see, there is no information about transaction fees. That raises a big question mark."
The critical date is January 10th...
As it is known, the SEC has until January 10 to respond to ARK Invest's spot Bitcoin application. The Authority does not have the right to postpone this decision. Therefore, either acceptance or rejection will be decided. Experts and the U.S. media, on the other hand, see a higher probability that the SEC will accept all applications at the same time, rather than giving an approval on or before January 10, which would give ARK Invest an advantage.
Published: January 2, 2024 16:35Last Updated: January 2, 2024 16:36