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FTX seeks to sell $744 million in Grayscale and Bitwise assets amid its bankruptcy proceedings. The asset sale aims to prepare for creditor payouts and minimize price volatility risks. FTX founder Sam Bankman-Fried was recently found guilty of all the charges that had been levelled against him. In a move to address its financial obligations and recover from bankruptcy, the troubled crypto exchange FTX , along with its debtors, has submitted a proposal to the US bankruptcy court in Delaware seeking to sell trust assets. The proposal outlines the sale of trust assets, consisting of funds from Grayscale and Bitwise, with a combined estimated value of $744 million. Upcoming creditor payouts FTX , once a major player in the crypto exchange industry, filed for bankruptcy in November the previous year after reports revealed the misappropriation of customer funds . The proposed sale of “trust assets” is aimed at preparing the estates for forthcoming di...

Grayscale filed an application to launch an Ethereum futures -based exchange-traded fund (ETF). According to The Wall Street Journal, Grayscale filed an application for an Ethereum (ETH) futures exchange-traded fund (ETF). This latest application was filed under the Securities Act of 1933, the same regulatory framework governing commodities and spot Bitcoin (BTC) ETFs. Previously, Grayscale also filed for an Ethereum futures ETF under the Investment Company Act of 1940 — the act that regulates most security-based ETFs. This is an important distinction per the report since the SEC has approved Bitcoin futures ETFs under both acts. Grayscale vs SEC Grayscale, the manager of the world’s largest Bitcoin fund, has been involved in a legal battle with the U.S. Securities and Exchange Commission (SEC) over its request to convert its investment vehicle, the Grayscale Bitcoin Trust (GBTC), into an exchange-traded fund (ETF). The SEC initially rejected Grayscale’s proposal, c...

The blockchain analytics firm claims Grayscale is the world's second-largest BTC entity. Blockchain analytics platform Arkham Intelligence claims to have identified the addresses of the Grayscale Bitcoin Trust. The trust consists of more than 1,750 addresses holding a total of over $16 billion worth of Bitcoin (BTC), according to a Sept. 6 thread on X (formerly Twitter). Arkham claimed that Grayscale is “the 2nd largest BTC entity globally.” Breaking: Arkham has identified the Grayscale Bitcoin Trust’s holdings on chain. It is the 2nd largest BTC entity globally, holding >$16B of BTC. Though Grayscale publicly reports balances, they have refused to identify the on-chain addresses of the trust. https://t.co/uEN4kNldpm pic.twitter.com/p9GfrthoKR — Arkham (@ArkhamIntel) September 6, 2023 The Grayscale Bitcoin Trust holds over $16 billion in BTC. Its issuer, Grayscale, is currently battling with the U.S. Securities and Exchange Commission (SEC) as it attempts to transform the tr...

Grayscale GBTC Trust conversion to an ETF will unlock a potential sale of up to $18 billion in Bitcoin. The introduction of a spot-based Bitcoin (BTC) exchange-traded fund (ETF) would make the asset more accessible to individual investors and mutual funds. What's more, unlike a futures-based Bitcoin ETF, a spot-based ETF involves actually buying BTC. So will the approval of the first Bitcoin ETF be a bullish event? Not necessarily. GBTC 'discount' remains in the double digits  Over the years, the U.S. Securities and Exchange Commission (SEC) has rejected every Bitcoin ETF applicant, and the latest denial was issued to VanEck Bitcoin Trust on March 10, 2023. The SEC concluded that the offer did not have a "comprehensive surveillance-sharing agreement with a regulated market of significant size related to spot Bitcoin." Regulators are hesitant to release what many believe would be a more equitable and transparent Bitcoin product.  Investors now question whether the...

The new funds would invest in a wide range of different crypto-related assets including Bitcoin miners and privacy tech. Three new crypto -focused exchange-traded funds (ETFs) have been put forward for approval by crypto currency asset manager Grayscale Investments, which also announced a new entity to manage its growing funds . On May 9, Grayscale said it launched a new arm of its business — the Grayscale Funds Trust — allowing it to manage many of its publicly traded financial products in-house. In addition to the new trust, Grayscale revealed it filed a registration statement with the United States Securities and Exchange Commission (SEC) for three new crypto-focused ETFs, despite previous roadblocks from the regulator over crypto-related ETFs. The new funds comprise an Ethereum Futures ETF, a Global Bitcoin Composite ETF along with a Privacy ETF. The Global Bitcoin Composite ETF would invest in exchange-traded products that are related to or backed by Bitcoin (BTC), including ...