Grayscale, one of the largest cryptocurrency fund managers, has declared it is trying to morph the bitcoin trust GBTC into an exchange-traded fund (ETF) to solve its price woes. The exchange rate is now at a 20% price discount compared to its bitcoin holdings, a fact that has many worried about the overall sustainability of their business model.
Grayscale Hints at Becoming an ETF
Grayscale, the biggest cryptocurrency fund manager in the world, has declared its Grayscale Bitcoin Trust (GBTC) is in the process to become an ETF to get rid of some of the problems it is facing. Grayscale’s CEO, Michael Sonnenshein, declared that morphing GBTC into an ETF would solve many of the inefficiencies that investors are experiencing now when it comes to pricing, a process he said they were 100% committed to doing.
Shares of GBTC, the Grayscale Bitcoin Trust, have underperformed its digital counterpart significantly this year, and have reached lower lows during selloffs. This imbalance could neg
Źródło: https://news.bitcoin.com/grayscale-fund-touts-etf-conversion-as-price-discount-issue-solution/
