Grayscale Investments is 100% committed to converting GBTC into an ETF

In a recent note, Grayscale Investments reassured the cryptocurrency community that it has complete intentions to transform Grayscale Bitcoin Trust (GBTC) into an exchange traded fund. Within the note, Grayscale Investments stated: “Today, we remain committed to converting GBTC into an ETF although the timing will be driven by the regulatory environment.”The note continued to state, “When GBTC converts to an ETF, shareholders of publicly-traded GBTC shares will not need to take action and the management fee will be reduced accordingly.”Several firms have presented Bitcoin ETF applications in the form of an S-1 or 19b-4 to the Securities Exchange Commission, and Grayscale Investments plans to continue to pursue the space.GBTC currently has north of 38B assets under management and is +2.79% on the day and +58.95% YTD.(BTC-USD) is approaching $60,000, +1.35% on the day.See the relationship between gold and bitcoin.