- Grayscale has filed for a US-listed ETF that would invest in 'spot' bitcoin ETPs in other countries.
- These ETPs invest directly in 'physical' bitcoin or track the cryptocurrency’s price synthetically.
- The SEC has so far only allowed bitcoin ETFs that trade in futures contracts listed on the CME.
- Grayscale is proposing that its 40% exposure to spot bitcoin ETFs would be weighted equally between five underlying funds.
- The remaining 60% of the portfolio would be invested in the equity of bitcoin mining companies.
Financial Times — Markets — Bitcoin ETF — Investing In Funds — Investments — Us Financial Regulation
Grayscale aims for possible loophole with new bitcoin ETF filing
Grayscale files for a US-listed Bitcoin ETF that would invest in 'spot' bitcoin ETPs trading in other countries, to partially circumvent SEC restrictions.