Main to remember
- NYSE Arca has filed a 19B-4 form to convert Graycale de Grayscale’s trust into a bargaining fund on the stock market.
- Grayscale seeks to extend its ETF offers, including proposals for XRP and Litecoin ETF alongside its Etf Bitcoin and Ethereum Etfs.
Share this article
Nyse Arca has deposited a Form 19B-4 With the dry, the search for approval for a change of rule to list and negotiate the actions of the Graycale FNB Spotcoin Spotcoin. This decision comes quickly after Graycale announced the Launch of its Dogecoin trust Earlier in the day.
“Similar to Bitcoin and Litecoin, Doge can be used to pay goods and services or can be converted into fiduciary currencies, such as the US dollar, at determined rates on the trading platforms of digital assets or in Individual users User Transactions under a barter system. In addition, DOGE is used to pay transaction costs to minors to check transactions on the DOGECOIN network, ”says the file.
The proposed FNB would provide investors with an exposure to Dogecoin without direct property requirements. Coinbase Pustody Trust Company would serve as a guard, while Bny Mellon would take care of the functions of administrative and transfer agent.
The 19B-4 deposit is a regulatory requirement for new ETF announcements. The SEC has 45 days from the publication of the Federal Register to examine the file and make a decision. The regulator may approve, disapprove or initiate procedures to determine whether the change of rule should be disapproved. This examination period can be extended to 90 days if the dry provides for reasoning or if Nyse Arca agrees.
Grayscale has expanded its ETF initiatives, recently applying to Convert your XRP confidence to ETF And pursuing the FNB attached to other major altcoins such as Litecoin and Solana.
The asset manager obtained regulatory approvals for Bitcoin ETF and Bitcoin and Ethereum SPOT ETF, following a historic legal victory in August 2023 when a court tried the previous rejection of the dry of the proposal Grayscale Bitcoin Bitcoin spot as “arbitrary and capricious”.
The company had initially challenged the SEC decision in 2022 after the regulator rejected its proposal to convert the GBTC fund to a Bitcoin Spot ETF.
The Dogecoin ETF race heats up as the deposits multiply
The race for launching a Dogecoin ETF in the United States is intensifying, with several companies in the running for regulatory approval. Bitwise Tuesday laid with the dry to launch its own investment product which follows the price price of DOGE, The largest part of the world in the world by market capitalization.
“I have never heard of a launch of a trust, then to convert it to Etf on the same day,” said Eric Balchunas de Bloomberg Etf, Eric Balchunas, commented Grayscale’s decision to convert his confidence in Dogecoin to An ETF.
Dogecoin and Litecoin can have a regulatory advantage compared to ETFS following Solana and XRP. Neither DOGE nor the LTC was subject to disputes with the dry, potentially simplifying their path to the approval of the ETF.
As indicated previously by Balchunas, the first ETF Altcoin approved under Trump could be a Litecoin.
Share this article