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Grayscale reshuffles its DeFi index, adds Flexa’s AMP

Crypto asset management firm Grayscale announced Tuesday a shake-up in the constituents of its DeFi index.  The firm, which is owned by crypto deca-unicorn DCG, said that it would remove Bancor and UMA from the index and add AMP. Bancor – the token tied to the decentralized exchange — and UMA — a token tied to a protocol for synthetic assets – together accounted for 2% and 2.9% of the index at the time of its launch, respectively. Grayscale launched …

SEC punts on Bitwise and Grayscale bitcoin ETF proposals

The Securities and Exchange Commission (SEC) has punted on two more spot bitcoin exchange-traded fund (ETF) proposals. Two extension orders hit the docket Friday for NYSE Arca’s proposed rule changes — one for the Bitwise Bitcoin ETP Trust proposal and another for the Grayscale Bitcoin Trust proposal. The SEC will now take an additional 45 days to review both proposals, kicking their decision deadlines to February 1, 2022, and February 6, 2022, respectively.  “The Commission finds that it is appropriate …

Grayscale argues the SEC’s bitcoin ETF treatment could violate the APA

In the wake of the Securities and Exchange Commission’s most recent bitcoin exchange-traded fund (ETF) rejection, Grayscale is pushing back on the regulator’s arguments. Grayscale is seeking to convert its bitcoin trust, GBTC, to an ETF, and recently put the Securities and Exchange Commission on the clock in October, when NYSE Arca filed to list the product. A decision could come as early as Dec. 24, although the agency has a history of extensions. It’s already published a notice on …

Grayscale launches Solana trust product

Crypto asset management firm Grayscale has launched a Solana trust product for accredited investors via private placement. The product will offer exposure to SOL, the native token used on the Solana blockchain. The launch comes two months after Grayscale rival Osprey Funds launched a Solana trust product. Ethereum rival Solana is getting popular among decentralized finance (DeFi) projects. The price of its native token SOL has skyrocketed in recent months from $50 to over $200 currently as the blockchain has …