A bitcoin ETF could threaten the world’s biggest crypto fund

Regulated funds may suck away demand for Grayscale’s off-exchange investment trusts

Gary Gensler finds cryptocurrencies so interesting that he once taught a 24-class course on uses of the blockchain. That may bode well for the many enthusiasts of bitcoin when the MIT Sloan professor begins his new job as chair of the US Securities and Exchange Commission.

The SEC chair’s remit is vast, but one item currently sitting in his in tray is particularly eye-catching. US asset managers VanEck and WisdomTree are seeking the regulator’s permission to list exchange-traded funds (ETFs)

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