Grayscale, VanEck, and ARK, three firms vying to offer a spot Bitcoin ETF in the U.S., have gotten approval for their funds to trade on their respective exchanges.

The Grayscale Bitcoin Trust, a Bitcoin investment vehicle for accredited investors, currently trades as a commodity investment product on the OTCQX under the GBTC ticker. It’s now been approved to trade on the NYSE Arca if Grayscale’s bid to convert the trust to a spot Bitcoin ETF is approved. And the VanEck Bitcoin Trust would trade under the Chicago Board Options Exchange (which goes by Cboe). Ark, which teamed up with fund manager 21Shares for its ARK 21Shares Bitcoin ETF, would trade on the Cboe if it’s approved to be offered to investors.

To be clear: This is just a bit of required paperwork. It’s certainly a positive sign that the exchanges have approved the Bitcoin ETFs to trade, but no issuer has received the all-important green light from the Securities and Exchange Commission.

The industry has been buzzing at the possibility of a Bitcoin ETF getting approved. If it does, U.S. investors would be able to gain exposure to Bitcoin without the need to buy and custody the asset directly.

Financial institutions have been applying to offer one for the past 10 years, but the SEC has rejected all prior applications saying that such a product would present too big a risk to investors.

Given the stakes, routine filings from the likes

Go to Source to See Full Article
Author: Stacy Elliott

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details