Cryptocurrency 17 minutes ago (Oct 15, 2022 04:00PM ET)
Grayscale BTC Trust trades at a record 36.7% discount, but is it justified?
U.S. investors have been waiting for a exchange-traded fund (ETF) approval since May 2014 when the Winklevoss Bitcoin Trust filed an amendment request at the Securities and Exchange (SEC).
Over the years, the SEC has rejected every applicant and the latest denial was issued to WisdomTree’s application for a spot Bitcoin ETF on Oct. 11. The SEC concluded that the offer did not have the ability “to obtain information necessary to detect, investigate, and deter fraud and market manipulation, as well as violations of exchange rules and applicable federal securities laws and rules.”