The court’s verdict was reached by a panel of three judges, but it was subject to potential review by a larger panel. The SEC’s decision not to oppose this ruling effectively paves the way for Grayscale’s transformation.
Grayscale has long argued that such a transition would unlock billions in investor value by enabling simplified share creation and redemption – features absent in their current closed-end structure. This existing structure has often been criticized for preventing investors from redeeming shares when prices fall, resulting in steep discounts relative to Bitcoin’s inherent value.
The introduction of the Bitcoin ETF is expected to provide investors with greater flexibility and potentially stimulate more participation in the cryptocurrency market.
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Source: Cryptocurrency - investing.com
