Robinhood lists Grayscale’s Bitcoin Trust (GBTC) and Ethereum Trust (ETHE)

Abstract:

• Robinhood has listed the Grayscale Bitcoin Belief (GBTC) and the Grayscale Ethereum Belief (ETHE)
• Yesterday, Grayscale filed Kind 10 registration statements with the SEC for Grayscale Horizen Belief, Grayscale Stellar Lumens Belief, and Grayscale Zcash Belief
• Grayscale remains to be optimistic that the SEC will approve the conversion of its Grayscale Bitcoin Belief to a spot Bitcoin ETF

The favored buying and selling platform of Robinhood has listed the Grayscale Bitcoin Belief (GBTC) and the Grayscale Ethereum Belief (ETHE). Information of the 2 funding merchandise being accessible on the favored buying and selling platform was made public by way of Twitter by the Founder and CEO of Digital Foreign money Group, Barry Silbert.

Lastly! Now you can commerce Grayscale Bitcoin Belief and Grayscale Ethereum Belief on Robinhood$GBTC $ETHE https://t.co/MzOJxvI7GG

— Barry Silbert (@BarrySilbert) May 6, 2022

Grayscale Information Kind 10 Registration for Horizen, Stellar Lumens, and ZCash Trusts

The provision of GBTC and ETHE on Robinhood comes lower than 24-hours after Grayscale announced that it had publicly filed Registration Statements on Kind 10 with the US Securities and Change Fee for the Grayscale Horizen Belief, Grayscale Stellar Lumens Belief, and Grayscale Zcash Belief.

Based on Grayscale, the filings had been voluntary and topic to SEC evaluate. Moreover, ‘the merchandise are funding merchandise that permit traders to extra successfully implement strategic and tactical asset allocations that incorporate digital property through the use of the merchandise’ share.’

Grayscale Optimistic that it Will Convert its GBTC right into a Spot Bitcoin ETF

On the identical time, Grayscale has a pending utility on the SEC to transform its Grayscale Bitcoin Belief right into a spot Bitcoin ETF. The corporate’s Chief Authorized Officer, Craig Salm, lately answered questions in regards to the conversion course of, the place he defined how it could occur. He said:

GBTC share costs will seemingly transfer to commerce in keeping with NAV. Then, the shares could be uplisted from OTCQX to NYSE Arca. Grayscale and our companions would deal with this behind the scenes.

Importantly, in case you are an investor that’s already holding shares of GBTC you wouldn’t should do something. None of this could inherently characterize a taxable occasion for shareholders both.

Mr. Salm went on so as to add that there’s nonetheless a window to submit feedback to the SEC in assist of the Grayscale Bitcoin ETF utility. Over 2,600 feedback have been submitted, and Grayscale hopes that extra traders will think about emailing their ideas in regards to the ETF to the SEC.