Grayscale Bitcoin Trust Now Regulated by SEC

On Tuesday, it became known that Grayscale had the first Bitcoin Trust regulated with the SEC. In November, a New York-based investment company that offers 10 cryptocurrency investment products to institutional and accredited investors, 4 of which are publicly traded and also available to all investors, applied to the SEC for registration.

On January 17, the Grayscale Bitcoin Trust is the company's largest investment mechanism with $2.4 bln in assets. The trust’s shares are registered with the SEC. Grayscale stated that:

"As many institutions restrict investments in instruments that are not registered with the SEC, a broader set of investors may now begin to consider the trust accordingly."

Grayscale Managing Director, Michael SONNENSHINE, said in an email that Grayscale has voluntarily aimed to this registration and will continue to work within the existing regulatory rules. Now the trust will submit its quarterly and annual reports to the SEC, as well as audited financial statements in the form of 10-Q and 10-K. The Managing Director also added:

"Today's announcement should signal to investors that our regulators are willing to engage with our products and our space as a whole. Even though it will require more rigorous reporting standards, it is a new level of transparency and reporting that we believe investors deserve."

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