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Blockfi Filed An Application With SEC To Register Bitcoin Trust

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BlockFi has filed an application with the U.S. Securities and Exchange Commission (SEC) to register the Bitcoin Trust. If approved, the new trust will compete with Grayscale products.

Blockfi provides loans secured by cryptocurrencies, in its public application to SEC, there is little detail about the product characteristics. Usually, such trusts are traded at a large premium in which big investors put their money, and often a large management fee is charged.


At the moment, such trusts are quite popular among institutional investors, since this product is the closest option to Bitcoin ETF. Earlier, the largest digital asset management company Grayscale Investments created six new trusts for various coins, including LINK and XTZ.

Read: Investors Are Excited As Grayscale Is Setting Filecoin, Chainlink, Mana, Tezos And Livepeer Trusts

Grayscale recently announced that $3.3 billion was invested in the company’s funds in the fourth quarter of 2020. In addition, the investment company Pantera Capital reported that it is working on the creation of a new cryptocurrency fund aimed at institutional investors.

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Jakkk
Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade, and write on cryptocurrencies. My basic aim is to provide genuine information to cryptocurrencies readers because crypto is filled with frauds and scams. True information is very rare to get. So I will be providing accurate information about cryptocurrencies topics, that users can trust.

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