The trusted authority on digital currency investing and cryptocurrency, Grayscale Investments, has recently shared a roadmap revealing plans to release a Bitcoin ETF for the U.S. market. As revealed in the roadmap, GBTC and ETHE, two of its funds, are on the list to become proper exchange-traded funds. Grayscale Introduces Roadmap for Releasing Bitcoin ETF As of now, the investing and cryptocurrency asset management firm Grayscale has not promised or guaranteed that it will surely be renewing its push for a U.S. ETF. After various attempts in previous years, Grayscale has finally renewed its push to release a Bitcoin ETF on the American asset market. Two of the funds of the investment company, GBTC and ETHE, are on the list of becoming proper exchange-traded funds. However, it should also come to notice that the firm has not given 100% assurance regarding this as of now. Moreover, the firm has not even indicated any concrete efforts such as filing a new request with the Securities and Exchange Commission. In addition to this, the firm has not yet provided any significant timeline for its recently announced plans. One of the driving BTC narratives has been the promise of introducing a Bitcoin ETF since the year 2017 when the investing firm first made an attempt to file for an ETF with the SEC. However, the Securities and Exchange Commission has consistently rejected these filings, often citing the unregulated nature of the infrastructure of BTC. Categories of Development for Trust Funds Each trust fund as per the roadmap shared by Grayscale is divided into four major categories. The first category is the ‘private placement’ phase, where the funds are only made available for sale and purchase in over-the-counter dealings with the firm. Moving on to the second category, it is for publicly-listed shares on the secondary markets, which means that the trust funds receive a ticker symbol and become tradable by the public. The most advanced trusts receive the SEC reporting status, committing to the periodic revelations of their balance sheets and operations to the Securities and Exchange Commission. The last one and the most secretive status is that of an exchange-traded fund, a completely regulated and liquid fund.
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