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Grayscale Holds Private Meeting With SEC Discussing Bitcoin Spot ETF Transition

Grayscale – the world’s largest Bitcoin fund – reportedly met with the Securities and Exchange Commission (SEC) in private last week. The company argued that the commission should approve its transition into a Bitcoin Spot ETF to unlock over $8 billion in value for its investors.
Why Convert Grayscale?
In a presentation shared with CNBC, Grayscale claimed that a Bitcoin spot ETF would be “no riskier than a Bitcoin futures ETF”. The company believes that both spot and futures markets are influenced by the same inputs, due to their significant overlap in constituents and tightly correlated prices.
Grayscale currently holds over 640,000 Bitcoin on behalf of over 850,000 US accounts. That’s about 3.4% of Bitcoin’s total supply, worth $18.6 billion at the time of writing.
The fund operates as an avenue for firms like Cathie Wood’s Ark Invest to gain price exposure to Bitcoin. However, the technicals of the fund are different from those of exchange-traded funds, causing it to

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