As we look ahead, I think it’s never been more important for the #crypto and ETF communities alike to advocate for the development of a robust listed options market for spot #bitcoin ETFs. Although $GBTC has been in the public market since 2015, it was never accompanied by listed options, as they aren’t a feature of the OTC Market.

For info & disclosures, visit: etfs.grayscale.com/gbtc .@NYSE and other national exchanges have recently filed Forms 19b-4 to amend the listing standards to permit listed options on commodity-based ETFs, including spot bitcoin ETFs like $GBTC.

nyse.com/publicdocs/nys…

Approval of an ETF that provides inverse exposure to #Bitcoin futures could be a positive sign for #crypto. Here’s a 🧵 on why... I am not providing investment advice on $BITI or any other ETF, I’m not “calling the bottom,” and Grayscale does not currently have plans to offer products that short crypto. Instead, here’s an article for context:
bloomberg.com/news/articles/…

The plot thickens on the path to $GBTC’s spot #Bitcoin #ETF conversion… Today, the SEC approved another US-based #Bitcoin futures #ETF. Great, right? We agree. But it's important to realize that not all Bitcoin futures ETFs are created equal. sec.gov/rules/sro/nyse…

When I joined @Grayscale in 2014, we sponsored one investment product - Grayscale #Bitcoin Trust - and managed $60 million in AUM. Today, we have a family of 15 products and manage more than $53 billion in AUM. Our team has worked tirelessly to build $GBTC into the world’s largest, most transparent #Bitcoin investment vehicle while partnering with policymakers and regulators to build familiarity and trust in Bitcoin, #blockchain, and the underlying digital currency market.