World’s Largest Digital Currency Manager Files With Security and Exchange Commission

Grayscale Investments has assets of roughly $2.7 billion making it the world’s largest digital currency. It announced that it has filed with the Security and Exchange Commission a registration statement through Form 10 in order to target more investors.

The Grayscale Bitcoin Trust (GBTC) has assets of $2.175 billion which it trades on over-the-counter marketplace OTCQX.

This filing is voluntary which still is still subject to Security and Exchange Commission review.

“We filed a FORM 10 and the SEC can, of course, have comments, or questions, or they can ask us to expand on certain aspects of the document, but if they do not, it typically goes effective after 60 days from the time is filed,” Michael Sonnenshein, the managing director told Reuters.

He also added that it would be helpful in making Grayscale investments the status of the first digital currency reported by SEC. It hopes to attract more investors to which are devoted to bitcoin fund.

“This would open up GBTC to a larger pool of investors who would otherwise not be allowed to trade or invest in products that are not SEC-reporting,” the managing director said.

It is also expected that the shareholders who are willing to sell their shares will sell their shares after six months.

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