Grayscale Says It’s ‘100% Committed to Converting GBTC Into an ETF’
In a blog post, the world's largest digital asset manager, confirmed its intent to offer an ETF.
The approval comes just over two months after Canada approved its first bitcoin ETF.
The bitcoin ETP goes live in Frankfurt while U.S. regulators consider WisdomTree’s bitcoin ETF application.
The ETF issuer raised eyebrows last month when it switched its ticker symbol to $BTC after an investment from digital asset manager Grayscale.
The custody bank would provide ETF basket operations, order taking, fund accounting, fund administration and transfer agency services.
With redemptions in sight, GBTC shareholders now know they won’t be paying a 2% annual fee forever.