Grayscale has made another amended S-3 filing with the securities regulator, reported Bloomberg’s James Seyffart on Tuesday. The news came in hours after Grayscale Investments’ chairman, Barry Silbert, stepped down from the position.
Also Read: Grayscale Investments Reshuffles Board as Barry Silbert Steps Down
Grayscale accepts cash mandate
The filing is to convert the Grayscale Bitcoin Trust (GBTC) fund into a Bitcoin ETF. Seyffart reported that Grayscale is apparently “bending the knee” as it accepts the SEC’s mandate on cash-only orders.
The filing underlines, “Although the Trust creates Baskets only upon receipt of Bitcoins, and redeems Baskets only by distributing Bitcoins, at this time an Authorized Participant can only submit Cash Orders…”
“The Trust is currently able to accept Cash Orders,” the…
