Grayscale is looking to restructure its Bitcoin Trust into a fund that can be invested with money or physical assets after the SEC first approved the Bitcoin Futures ETF.

On October 17, the CEO of Digital Currency Group, Grayscale's parent company, Barry Silbert hinted that the company was planning to move Trust into a fund Spot.

After criticizing Bitcoin can pay in cash Recently approved on Twitter then experts Bitcoin Preston Pysh asked Silbert when Grayscale's Bitcoin Trust was converted to payment in Bitcoin. Silbert replied, "Just wait."

Grayscale plans to convert Bitcoin Trust into Bitcoin-settled ETF

Bitcoin Trust investors, however, seem uneasy with Silbert's words. Twitter user svrgnindividua questioned what the restructuring would mean for investors holding shares in Grayscale's Bitcoin Trust.

“What will happen to people investing in Grayscale after the Spot ETF is approved? Will our investment be converted into ETF shares?”.

Rumors of Grayscale's ambitions for Bitcoin ETF started going viral over the weekend after a CNDC article reported insiders saying Grayscale was waiting approve a .

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October 15th, SEC announced they are accepting registration Bitcoin Futures ETF by ProShares Trust. ProShare's ETF allows investors to cash out Bitcoin futures contracts.

While the ETF approval is widely cited as the main reason for Bitcoin's recent price action, there are many analysts who have criticized the fund's cash settlement structure and advocated for the SEC to approve one. payment in Bitcoin.

According to the latest update on Grayscale holdings on October 15, the company is managing $52.6 billion of which 73% is in the Bitcoin Trust. Data shows that Grayscale's Bitcoin storage consists of about 620,000 or 3.3% total supply of Bitcoin.

Refer cointelegraph.com

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