Even after the Securities and Exchange Commission denied applications for two other bitcoin-based exchange traded funds, the third one isn’t giving up, amid the latest run-up in bitcoin prices sparked by a new investment wave in the sector. The Bitcoin Investment Trust, sponsored by the firm Grayscale Investments LLC, filed an amended Form S-1 on […]
The Bitcoin Investment Trust, a bitcoin-based exchange traded fund (ETF), has been sponsored by investment firm Grayscale Investments for Securities and Exchange Commission approval. In the announcement, Grayscale’s CEO Patrick Byrne said that he was “excited to announce our partnership with Coinbase on this new exchange.” The provisions represent a bid to gain approval where bitcoin ETFs have failed in the past. Grayscale Investment is a subsidiary of the Digital Currency Group, a bitcoin-based holding company.