AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Fintech Beat
Grayscale's Oral Argument
Aug 29, 2023
Grayscale Investments CEO & Chief Legal Officer discuss their proposed Bitcoin ETF, lawsuit with the SEC, potential conversion of GBTC to a spot Bitcoin ETF, history of Bitcoin ETFs, timing & updates on the ongoing case before the DC Circuit Court, reflections on experience and optimism for the future of crypto and Grayscale, and importance of diversification in protecting investors.
36:02
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Grayscale aims to convert their flagship product, the grayscale Bitcoin trust (GBTC), into a spot Bitcoin ETF to offer investors regulated, transparent, and efficient ways to invest in Bitcoin.
- Grayscale initiated litigation against the SEC, challenging their decision to approve Bitcoin futures ETFs while denying spot Bitcoin ETFs, in hopes of gaining approval for spot Bitcoin ETFs and a more favorable regulatory environment for the crypto asset class.
Deep dives
Overview of Grayscale and GBTC
Grayscale is a digital currency asset manager and the largest in the world, managing about $20 billion. They provide access to cryptocurrencies by borrowing from established investment practices. Their flagship product is the grayscale Bitcoin trust (GBTC), which is the world's largest Bitcoin fund, holding about 3.5% of all Bitcoin in circulation. GBTC is not yet an ETF, but it operates similarly to an ETF, trading on the market every day. Its legal structure and listing make it subject to market forces, leading to fluctuations in share prices.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode