A key participant in the latest euphoric crypto market surge celebrates ten years in business. Grayscale is getting ready to celebrate its birthday while waiting for the SEC’s decision on its new goods.
Grayscale celebrates 10th anniversary, CEO Sonnenshein announces rebranding
Grayscale, a U.S. asset manager and manager of OTC-traded cryptocurrency trusts, is ten years old. Grayscale Bitcoin Trust (GBTC), its earliest and most well-known product, was also introduced ten years ago as Bitcoin Investment Trust. Michael Sonnenshein, CEO of Grayscale, extends his congratulations to all of the company’s partners, employees, and investors.
https://x.com/Sonnenshein/status/1706285119869194372?s=20
CEO Sonnenshein continued, “To commemorate this significant achievement, Grayscale launched a huge redesign of its primary website and identity.
As part of the rebranding project, the team proposes a new brand vision and brand objective for the upcoming era of development, according to the press release distributed by Grayscale:
The new brand promise is “Grayscale creates a share of the future for everyone.” The new brand mission is “Grayscale brings new investment opportunities to scale.”
Grayscale’s GBTC is risen by 130% in 2023 despite a severe slump on other cryptocurrency marketplaces. On over-the-counter (OTC) trading platforms, the product is being traded for $18.9.
One of the biggest Bitcoin (BTC) holdings distributed by a private business is still Grayscale Bitcoin Trust. It amassed about 623,000 Bitcoins (BTC), or around $16.3 billion, according to Coinglass.
ETF ambitions after major legal win: What’s next for Grayscale?
The trusts created by Grayscale are essential components of the global investment ecosystem because they provide investors access to the performance of digital assets without requiring them to hold any cryptocurrencies “physically,” in custody, or through on-chain wallets.
In its conflict with the American SEC, Grayscale achieved a significant win on August 29, 2023. Grayscale’s plan was rejected by the SEC, and the D.C. Circuit Court of Appeals held that this decision was “arbitrary and capricious.” The biggest cryptocurrency, Bitcoin (BTC), was able to reach a local high of $27,740 thanks to this move.
Grayscale has submitted a request for clearance for its Ethereum-based product, a Grayscale Ethereum Futures ETF, with the U.S. Securities and Exchange Commission. The SEC’s decision is anticipated in Q4 of 2023.
