Grayscale amends ETF strategy to meet SEC cash-only redemption demands
Summary
Grayscale filed a revised S-3 filing with the SEC to comply with demands for cash-only creation for fund redemptions. This move aligns with the SEC's preference for cash creation over in-kind transactions for ETFs. The SEC's decision is seen as addressing concerns about market manipulation and illicit activities. Grayscale's amended filing also indicates that its spot Bitcoin ETF shareholders won't benefit from airdrops or forks of the blockchain network. This decision is in line with the SEC's requirements, despite questions from industry experts.
