Robinhood Lists Grayscale’s Bitcoin and Ethereum Trusts
< img width =" 1280" height =" 720" src=" https://static.news.bitcoin.com/wp-content/uploads/2022/05/shutterstock_1925038817.jpg" class=" story __ img article __ poster "alt=" Robinhood Lists Grayscale's Bitcoin and Ethereum Trusts" loading =" lazy" > On May 6, the financial services company Robinhood announced the company has actually noted Grayscale’s Bitcoin Trust( GBTC) and Ethereum Trust( ETHE). Robinhood customers can now access the crypto financial investment products in order to get direct exposure to bitcoin or ethereum without in fact owning the digital currencies.
In Addition to Cryptos, Robinhood Includes Grayscale’s GBTC and ETHE
Today Robinhood added GBTC and ETHE to the business’s platform and the company’s brokerage account consumers can now buy or offer GBTC and ETHE stock and choices commission-free.
< blockquote class=" twitter-tweet" data-width =" 550 "data-dnt=" real" readability= "4.5211267605634" > There’s two brand-new methods to gain access to crypto on @RobinhoodApp. You can begin trading $GBTC and $ETHE today. https://t.co/n09aiEVhqEhttps://t.co/6tFrYCsmzx pic.twitter.com/AxKH7xZ0nS
— Grayscale (@Grayscale) May 6, 2022
Robinhood adding GBTC and ETHE investment products follows the firm presenting its crypto wallet throughout the very first week of April. On April 12, 2022, Robinhood noted shiba inu (SHIB), compound (COMP), polygon (MATIC), and solana (SOL).
The creator and CEO of Digital Currency Group (DCG), the parent company of Grayscale Investments, Barry Silbert, was thrilled to see Robinhood list GBTC and ETHE. “Lastly,” Silbert tweeted. “You can now trade Grayscale Bitcoin Trust and Grayscale Ethereum Trust on Robinhood.”
Year-to-date data reveal GBTC is down 46.63% and ETHE is down 44.08%. Grayscale just recently submitted a Type 10 with the U.S. Securities and Exchange Commission (SEC) for a Zcash Trust, Stellar Lumens Trust, and Horizen Trust.
Grayscale is likewise in the middle of trying to get its trust transformed into an exchange-traded fund (ETF). Nevertheless, the SEC has actually been a barrier for bitcoin spot ETFs to emerge and the U.S. regulator has yet to approve a bitcoin spot ETF.
Grayscale Investments’ CEO Michael Sonnenshein recently described in an interview that the SEC might possibly breach the Administrative Procedure Act if a bitcoin area ETF is totally rejected.
The firm’s chief legal officer, Craig Salm, explained what the conversion process would look like if the trust became an ETF. “GBTC share costs will likely transfer to trade in line with NAV,” Salm detailed. “Then, the shares would be uplisted from OTCQX to NYSE Arca,” the primary legal officer included.
Grayscale Investments is also asking individuals to get included with the effort to get the U.S. regulator to authorize the conversion of GBTC to an ETF.
Prior to adding Grayscale’s Bitcoin Trust and Ethereum Trust, Robinhood began its European expansion and just recently acquired the UK crypto business Ziglu. Additionally, last month the co-founder and CEO of Robinhood, Vladimir Tenev, talked about how DOGE might scale with Tesla’s Elon Musk.
What do you consider Robinhood including GBTC and ETHE? Let us understand what you think about this subject in the comments area below.
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In Case You Missed It Published at Sun, 08 May 2022 06:00:56 +0000