Is Grayscale the Financial Behemoth of the Cryptospace?

 

Who is Grayscale?

Now many may not know this but the Grayscale Investment Company which is the management company for billions in dollars worth of crypto assets just made a big move regulatory speaking. 

This week, it has been reported that the subsidiary of the Digital Currency Group which has at its helm Angel investor Barry Silbert who has been behind some of the cryptocurrency industry’s greatest names so far has applied to the United States Security and Exchange Commission (SEC) to register its Bitcoin Trust as a reporting company to the commission.

This, of course, raises the bar for many of the required compliance procedures and processes but also gives great advantages both of which will be discussed hereafter.

Coinbase 2

Greyscale and the Bitcoin Trust

Firstly, this then means that Bitcoin Trust will have to undergo the same requirements as public companies in the United States. These include but are not limited to accounting standards, corporate governance standards, taxation requirements, transparency requirements, shareholders rules and regulations as determined by United States investment laws and so on.

Should the SEC agree (which may take some time due to filing responses and clarifications by the SEC), this will make the Bitcoin Trust become the first Digital asset investment vehicle in the world to follow such procedures openly and transparently.

It would also indicate that the crypto space is also changing and as such the rules must apply as in all the use-cases of other investment vehicles.

The Digital Currency Group

It also says quite a bit about the organization behind this: The Digital Currency Group and the moves that the firm has been making over almost a decade as regards cryptocurrencies putting the firm in the drivers’ seat (at least in the western financial world) for anything regarding cryptocurrency investments.

This then, of course, will mean that the firm will become the “go-to” guys for all types of cryptocurrency investment models, vehicles, investment structuring and advisories and so on.

It also makes a bold statement about the kinds of bright minds that exist within and around the Digital Currency Group.

If cryptocurrencies are to achieve adoption, they have to play by the rules just like everybody else.    

This is what they have discovered and are toeing the path.

Cryptocurrency and Regulation

On the second hand, this opens the main door of the rabbit hole as several things should expectedly start happening in a few days. 

Further regulatory scrutiny of the crypto space by the Americans shall ensue.

This, of course, is to be expected following the rather tepid response of the American lawmakers to innovations with bills such as the “Keep-Big-Tech-Out-of-finance” Act and others.

However, the crypto space shall pass these examinations and scrutiny and shall rise to the challenge.

Further curiosity by the general public shall ensure and investments both on a retail institutional scale shall also follow. 

Cryptocurrency and Wall Street

It is expected that this will create a window of opportunity for Wall Street and other financial markets in America to catch up with their peers in other climes that have accepted cryptocurrencies and distributed ledger technologies.

Further liquidity windows between the crypto space and the regular financial world shall also ensue.

This is one more step towards adoption.

Following the success of this, Digital Currency Group will expectedly make other moves using Grayscale Investments.

Give or take within half a decade, Grayscale Investments will be the “Goldman Sachs” of the crypto space.

So in answer to the question in the title, yes Grayscale Investments is the behemoth of the crypto space if not now; then in the nearest future.

Is Grayscale the Financial Behemoth of the Cryptospace? 1
About the author

Christopher is the Blockchain/DeFi Editor for E-Crypto News he also writes frequently about Crypto Gaming and Gambling. He is the author of the book "Profitable Cryptocurrency Gambling and Gaming: A Complete Guide." A content developer, Crypto-Enthusiast, and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

Related Posts

Leave a Reply

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 32,736.00
ethereum
Ethereum (ETH) $ 1,911.33
tether
Tether (USDT) $ 0.995332
binance-coin
Binance Coin (BNB) $ 287.41
cardano
Cardano (ADA) $ 1.21
dogecoin
Dogecoin (DOGE) $ 0.225824
xrp
XRP (XRP) $ 0.628372
usd-coin
USD Coin (USDC) $ 0.996735
polkadot
Polkadot (DOT) $ 15.01
binance-usd
Binance USD (BUSD) $ 0.990857
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 32,736.00
ethereumEthereum (ETH)
$ 1,911.33
tetherTether (USDT)
$ 0.995332
bitcoin-cashBitcoin Cash (BCH)
$ 462.44
litecoinLitecoin (LTC)
$ 125.36
bitcoinBitcoin (BTC)
27.503,31
ethereumEthereum (ETH)
1.605,81
tetherTether (USDT)
0,836233
bitcoin-cashBitcoin Cash (BCH)
388,52
litecoinLitecoin (LTC)
105,32
bitcoinBitcoin (BTC)
23,538.66
ethereumEthereum (ETH)
1,374.33
tetherTether (USDT)
0.715688
bitcoin-cashBitcoin Cash (BCH)
332.52
litecoinLitecoin (LTC)
90.14

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020
KuCoin hackers steal $150 million
KuCoin Exchange Hacked But Insurance Will Cover The Stolen $150M
September 29, 2020
Mining City insists that it is legit
Mining City Refutes Claims By Philippines SEC Of Being A Scam
September 23, 2020

Blockchain/Cryptocurrency Questions and Answers

What Is Plethori Platform And How Does It Work?
June 12, 2021
What Is The Fudge Token?
What Is The Fudge Token?
June 5, 2021
What Is Shiba Inu (SHIB) Cryptocurrency And How Does It Work?
What Is Shiba Inu (SHIB) Cryptocurrency And How Does It Work?
May 31, 2021
What Is PancakeSwap And How Does It Work?
What Is PancakeSwap And How Does It Work?
May 27, 2021
How Has Internet Computer (ICP) Become A Top-10 Crypto?
How did “Internet Computer Coin”(ICP) Become A Top-5 Crypto?
May 19, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin32,778 1.66 % 3.37 % 14.47 %
Ethereum1,912.2 1.77 % 4.66 % 19.18 %
Tether0.9976 0.23 % 0.71 % 0.09 %
Binance Coin285.64 2.03 % 0.56 % 17.55 %
Cardano1.220 1.27 % 1.48 % 17.81 %
Dogecoin0.2270 2.96 % 10.30 % 26.12 %
XRP0.6255 2.82 % 5.19 % 25.16 %
USD Coin1.000 0.04 % 0.03 % 0.07 %
Polkadot14.96 2.99 % 7.96 % 34.49 %
Binance USD0.9993 0.18 % 0.52 % 0.00 %

bitcoin
Bitcoin (BTC) $ 32,736.00
ethereum
Ethereum (ETH) $ 1,911.33
tether
Tether (USDT) $ 0.995332
binance-coin
Binance Coin (BNB) $ 287.41
cardano
Cardano (ADA) $ 1.21
dogecoin
Dogecoin (DOGE) $ 0.225824
xrp
XRP (XRP) $ 0.628372
usd-coin
USD Coin (USDC) $ 0.996735
polkadot
Polkadot (DOT) $ 15.01
binance-usd
Binance USD (BUSD) $ 0.990857