(Bloomberg) — Grayscale Investments LLC and the New York Stock Exchange filed to convert the world’s biggest Bitcoin fund into an ETF, appealing to regulators for approval just as its wildly popular vehicle is beset with competition.
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The application to flip the $40 billion Grayscale Bitcoin Trust (ticker GBTC) landed on the same day that the ProShares Bitcoin Strategy ETF (BITO) debuted, becoming the first exchange-traded fund in the U.S. investing in futures on the…
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