Halltoonides kaalumine tagastab investoritele 20% GBTC varadest, kui ETFi unistused ebaõnnestuvad

Grayscale CEO Michael Sonnenshein stated in a letter to investors that should the Grayscale Bitcoin Trust fail to convert into an exchange-traded fund (ETF), potential moves could include a tender offer of 20% of the $10.7 billion trust.

Pakkumispakkumine kutsuks aktsionäre üles oma aktsiad kindlal ajal maha laadima, tagastades neile tegelikult investeeritud väärtuse.

Grayscale’s Bitcoin Trust was originally planned to trade like a bitcoin proxy as it sought ETF status, involving a net asset value (NAV) discount or premium. The premium or discount describes the difference in value between shares of the trust and the value of the underlying bitcoin held. When the value of the shares of the trust are higher than the underlying bitcoin, it is considered a premium. When the value of the shares drop below the underlying bitcoin, it is considered a discount.

Investorid on viimasel ajal pidanud kaaluma oma valikuvõimalusi, kuna usaldusfondi väärtus seisab silmitsi jätkuva langusega, mis suurendab usaldusväärsust allahindlus kuni 50% a record low, stoking fears of already jumpy investors. There is no way to extract bitcoin out of the trust.

Grayscale on mõnda aega püüdnud omandada ETF-i staatust ja viimati pärast seda, kui seda keelati, esitas kohtuasi against the U.S. Securities and Exchange Commission (SEC). In the lawsuit, Donald B. Verrilli Jr., Grayscale’s senior legal strategist and former U.S. solicitor general, stated that “As Grayscale and the team at Davis Polk & Wardwell have outlined, the SEC is failing to apply consistent treatment to similar investment vehicles, and is therefore acting arbitrarily and capriciously in violation of the Administrative Procedure Act and Securities Exchange Act of 1934.”

Vaatamata sellele, et SEC on korduvalt keeldunud hetke-ETFi olemasolust, on ta heaks kiitnud mitu futuuride ETF-i, alates the ProShares BITO ETF in October of 2021. The reasoning behind this, according to Chairman Gary Gensler, is that futures have “Bitcoin futures have been overseen by sibling agency CFTC for 4 years. That’s wrapped inside the 1940 Act which brings it inside investor protection.”

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• Allikas: https://bitcoinmagazine.com/markets/grayscale-weighing-tender-offer