Grayscale is planning to join the race for the SEC’s first Bitcoin ETF approval.
On their official website, the large corporation has posted job openings for both management positions and officer positions.
A bitcoin ETF is a publicly-traded trading vehicle that allows individuals and institutions to gain exposure to the bitcoin market without having to own bitcoin. The market has been clamoring for an ETF for a long time, with numerous firms applied to the Securities and Exchange Commission (SEC) as early as 2013. Grayscale has never applied for an ETF before.
While Grayscale does not currently sell any ETF products, the job postings all could interpret to the company’s “ETF market.” It does, however, sell a range of cryptocurrency trusts, the most popular of which would be bitcoin, trade at a premium to the market price.
Tellingly, these possible ETFs are not limited just to bitcoin-related funds.
The work vacancies come only weeks after the Grayscale Bitcoin Trust and Ethereum Trust started trading at a discount to bitcoin’s spot price, reversing years of premium trading.
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Although Canada’s third bitcoin ETF, which is set to launch this week, The SEC has yet to make a decision on first time.
Industry analysts expect that a bitcoin ETF, which the Securities and Exchange Commission has previously opposed. Decision-makers will eventually be aware of the light in the United States this year, citing both Canadian approvals as well as new management at the securities regulator.