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Thursday

22 April 2021

Grayscale Wants to Turn its Bitcoin Fund into an ETF - Decrypt

Grayscale Wants to Turn its Bitcoin Fund into an ETF - Decrypt


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Grayscale, the US investment firm responsible for a$38.8 billion closed-end fund, has its sights trained on turning the fund into a Bitcoin Exchange-Traded Fund as soon as possible.

Large institutional investors wire Grayscale some money (or some Bitcoin), then Grayscale invests that money into Bitcoin and sells shares in the fund on the stock market.

If shares trade at a discount, institutional investors who borrowed a lot of Bitcoin to fund the trust will lose money should they sell shares at discount to the price of Bitcoin. 

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