TheBorReport on Nostr: An Ongoing Thread* 1) It’s a lawsuit over a trust.. who cares!? The stakeholders ...
An Ongoing Thread*
1) It’s a lawsuit over a trust.. who cares!?
The stakeholders do. And some of them are institutions, so you know there will be a conclusion at some point.
2) It’s not BTC, it’s not true decentralisation. True, however, it will influence U.S. crypto currency regulation because it’s currently one of the few ways to get BTC exposure in a U.S. tax advantaged account besides the futures market. Their lawsuit will lay the groundwork for institutional investment into Bitcoin.
3) Institutions like SVB Wealth, ARK Holdings, and Barlett & Co all have exposure to GBTC.
4) Those who filed the sec paperwork believe they did it properly so what’s the issue? Is it political? The parent company of GBTC went to court recently and the investigation continues. GBTC rallied after journalist reported on the Judges remarks. Updates on the case will come out in Q3 of 2023
5) The paperwork filed for the trust was to transition the account from a trust to a ETF. If approved it will grant GBTC Regulation M status. Reg M would allow the trust to simultaneously create and redeem shares.
6) GBTC currently owns over 3.4% of all bitcoin currently in circulation.
1) It’s a lawsuit over a trust.. who cares!?
The stakeholders do. And some of them are institutions, so you know there will be a conclusion at some point.
2) It’s not BTC, it’s not true decentralisation. True, however, it will influence U.S. crypto currency regulation because it’s currently one of the few ways to get BTC exposure in a U.S. tax advantaged account besides the futures market. Their lawsuit will lay the groundwork for institutional investment into Bitcoin.
3) Institutions like SVB Wealth, ARK Holdings, and Barlett & Co all have exposure to GBTC.
4) Those who filed the sec paperwork believe they did it properly so what’s the issue? Is it political? The parent company of GBTC went to court recently and the investigation continues. GBTC rallied after journalist reported on the Judges remarks. Updates on the case will come out in Q3 of 2023
5) The paperwork filed for the trust was to transition the account from a trust to a ETF. If approved it will grant GBTC Regulation M status. Reg M would allow the trust to simultaneously create and redeem shares.
6) GBTC currently owns over 3.4% of all bitcoin currently in circulation.