Fri Mar 10 15:48:42 2023
(*5b5b0ae5*):: +public!
“The contents of the hearing were enough for the Senior Litigation Analysts at Bloomberg to change their probability of a successful Grayscale suit from 40% to 70% — an extremely noteworthy swing”
https://bmpro.substack.com/p/grayscales-sec-hearing-gives-new
*** Grayscale’s SEC Hearing Gives New Hope For GBTC Investors
*** The SEC was in the hot seat on Tuesday as the Grayscale Bitcoin Trust brought their arguments for a spot bitcoin exchange-traded fund in front of U.S. judges. GBTC shares jumped during the hearing.
*** bmpro.substack.com
(*8e881bee*):: Worth noting that any ruling is probably at least 6 months out and the earliest we could expect to see an actual conversion to a spot ETF is end of year. GIven this I couldn’t bring myself to actually purchase GBTC. it is lucky I passed given the continuing downward pressure on BTC. Still I am thinking about starting to DCA in just to play the potentially shrinking margin.