Coinbase Backs NYSE Arca’s Push for Grayscale Bitcoin Trust Conversion to ETF
$Bitcoin(BTC.CC$ $Coinbase(COIN.US$ In a letter to the U.S. Securities and Exchange Commission (SEC) on Tuesday, Coinbase urged the agency to approve NYSE Arca’s application to convert the Grayscale Bitcoin Trust into an exchange-traded fund (ETF).
“We believe investors should have access to GBTC in an ETP [exchange-traded product] format because it offers a tried and tested way for retail investors to gain exposure to bitcoin at prices that closely reflect spot bitcoin trading prices without holding it themselves,” the letter said. Grayscale Investments is a digital asset management firm owned by Digital Currency Group, which also owns CoinDesk.
”ETPs reduce discrepancies between trading market prices and underlying asset values through continuous share redemptions and creations. What could do more to advance both the public interest and the Commission’s mission to protect investors?” Grewal added in a tweet.
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Shane Mahoney : Coinbase is a joke don’t trust them the only good thing they have and offer is Learn and earn
opaquepapertrail Shane Mahoney: 100% no customer support. 0!
Shane Mahoney opaquepapertrail: not to mention they let me buy crypto with my bank account being empty shouldn’t that not go thru if it was any other bank or credit union