According to an investor <a href="https://www.wsj.com/articles/if-grayscales-bitcoin-etf-dreams-fail-firm-may-try-a-tender-offer-ceo-says-11671428078?mod=latest_headlines" target="_blank" rel="nofollow noopener">letter</a> cited by the Wall Street Journal, <a href="https://www.cryptoknowmics.com/news/grayscale-fires-first-salvo-at-sec-over-spot-bitcoin-etf-refusal">Grayscale Investments</a> is considering options to return a fraction of the Investor Capital of its flagship Grayscale Bitcoin (GBTC) product. It is only possible if the <a href="https://www.cryptoknowmics.com/news/sec-targets-atlas-trading-founders-for-alleged-twitter-and-discord-scam">Securities and Exchange Commission (SEC)</a> declines to endorse its spot bitcoin <a href="https://www.cryptoknowmics.com/news/grayscale-fires-first-salvo-at-sec-over-spot-bitcoin-etf-refusal">exchange-traded fund (ETF)</a>.
<h2>Grayscale to Return 20% of Investor Capital</h2>
The 20% of GBTC shares that are still outstanding and are trading at a 49% discount to net asset value (NAV) might be one alternative, according to the research.

In an earlier brief, the SEC cited a lack of regulatory monitoring as one of the reasons Grayscale's efforts to transform its bitcoin trust into an ETF were repeatedly rejected.
<h2>Impact of FTX Collapse</h2>
Following a stressful month for the cryptocurrency sector due to the collapse of <a href="https://www.cryptoknowmics.com/news/cryptoquant-data-indicates-binance-isnt-displaying-ftx-like-behavior">FTX</a>, one of the biggest exchanges, Grayscale Chief Executive Michael Sonnenshein wrote a letter to investors in an effort to allay their fears.

Grayscale, a subsidiary of CoinDesk, is owned by the Digital Currency Group. Grayscale filed a lawsuit against the SEC in June, claiming that it "vehemently disagreed" with the agency's decision to reject the company's ETF application.

Grayscale Investments to Explore Returning 20% of Investor Capital

Grayscale Investments is considering options to return a fraction of the Investor Capital of its flagship Grayscale Bitcoin (GBTC) product.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Grayscale Investments to Explore Returning 20% of Investor Capital

Top Picks