Re: Everything you wanted to know about Grayscale BTC Trust but were afraid to ask!
⭐ Merited by JayJuanGee (1)
No matter what happens, it seems, US Govt is likely uncomfortable with this BTC asset class that is continuing to grow into some kind of asset class that cannot be kept off the radar.
I do not think US government is uncomfortable with BTC asset class. Grayscale seek for Bitcoin ETF in 2016 but withdrew because of the US government stance about it. In 2016, bitcoin marketcap was within $300 million to around $2 billion and highly volatile, bitcoin is not as strong as it is now as at then. If US government turned down bitcoin ETF at the time, it should not be a surprise. But with the marketcap of over a trillion, Grayscale that withdrew from what they wanted (bitcoin ETF) in 2016 is now being positive about it. Bitcoin having a marketcap of over 1 trillion is a certainty that the first bitcoin ETF in USA will soon be in existence. According to the news I have read about this, Grayscale are so positive about this, which I believe it is as a result of positive feedback from US government.
Total AUM: $46.1 billion
