Grayscale updates spot Bitcoin ETF filing amid Silbert’s resignation
Crypto asset manager Grayscale has updated its S-3 filing for a spot bitcoin ETF.
According to Bloomberg analyst James Seyffart, Grayscale filed an updated filing with the U.S. Securities and Exchange Commission (SEC) the same day Barry Silbert — CEO of parent company Digital Currency Group — announced his resignation from Grayscale’s board of directors.
“Even Grayscale is accepting the SEC’s Cash-only creation/redemption edict. Looks like they’re bending the knee.”
Some crypto market commentators have speculated that Silbert’s departure could significantly increase the chances of Grayscale successfully converting its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF, which is currently awaiting an SEC decision.
Mt. Gox repayment rumors cause bitcoin price to drop to $42,000
Mt. Gox, the infamous Bitcoin exchange that suffered a major hack over a decade ago, has allegedly finally begun the process of repaying its customers for the 850,000 lost Bitcoin. This news has sent shockwaves through the market, causing a momentary disruption in the Bitcoin price uptrend.
As a result of these developments, the current price of Bitcoin stands at $42,625, with a 24-hour trading volume of $22,655,498,534.64.
However, the market has witnessed a -2.40% decline in the past 24 hours, reflecting the uncertainty caused by the Mt. Gox repayment proceedings.
Bitcoin climbs to 13th place among global currencies
Data from CEIC shows that bitcoin’s market value was $732.5 billion in november. This market value at the time placed bitcoin in the 15th position among the dominant central bank currencies.
A closer look at the list reveals that right ahead of the crypto king is the Swiss franc with a money supply (M1) worth $749 billion, and right behind it is the Indian rupee with an M1 of $693.1 billion.