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Bitwise 10 Crypto Index Fund conversion stayed by SEC hours after approval

Shortly after approving the Bitwise 10 Crypto Index Fund conversion, the U.S. Securities and Exchange Commission paused the decision for a full Commission review. So, why is the SEC halting approvals? Summary Bitwise’s ETF approval was halted just hours after clearance, leaving its multi-asset crypto fund in regulatory limbo. Grayscale’s GDLC faced a similar stay … Read more

Musk may still have a chance to thwart OpenAI’s for-profit conversion

Elon Musk lost the latest battle in his lawsuit against OpenAI this week, but a federal judge appears to have given Musk — and others who oppose OpenAI’s for-profit conversion — reasons to be hopeful. Musk’s suit against OpenAI, which also names Microsoft and OpenAI CEO Sam Altman as defendants, accuses OpenAI of abandoning its … Read more

Osprey seeks SEC nod for Bitcoin Trust ETF conversion

Key Takeaways Osprey Funds is seeking SEC approval to convert its Bitcoin Trust into an ETF. The conversion would provide enhanced liquidity and fee reductions for investors. Share this article Osprey submitted a draft registration statement to the Securities and Exchange Commission to convert its Osprey Bitcoin Trust (OBTC) into an exchange-traded fund, the company … Read more

How Musk’s $97.4B bid could gum up OpenAI’s for-profit conversion

On Monday, Elon Musk, the world’s richest man, offered to buy the nonprofit that effectively governs OpenAI for $97.4 billion. The unsolicited buyout would be financed by Musk’s AI company, xAI, and a consortium of outside investors, per a letter sent to California and Delaware’s attorneys general. OpenAI CEO Sam Altman quickly dismissed Musk’s bid, … Read more

SEC faces first deadline to decide on Grayscale’s Solana Trust ETF conversion proposal

Key Takeaways The SEC is facing its first deadline to decide on Grayscale’s proposal to convert Solana Trust to an ETF. Multiple firms, including VanEck and Bitwise, await SEC decisions on their Solana ETF proposals. Share this article The US SEC faces its first deadline today to make a decision on Grayscale’s application to convert … Read more

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