{"id":8062,"date":"2022-06-30T13:17:29","date_gmt":"2022-06-30T13:17:29","guid":{"rendered":"https:\/\/bitcoinwisdom.com\/?p=8062"},"modified":"2022-06-30T13:17:32","modified_gmt":"2022-06-30T13:17:32","slug":"barry-silbert-of-dcg-wins-the-sec-etf-deadlock-but-investors-lose","status":"publish","type":"post","link":"https:\/\/bitcoinwisdom.com\/pl\/barry-silbert-of-dcg-wins-the-sec-etf-deadlock-but-investors-lose\/","title":{"rendered":"Barry Silbert z DCG wygrywa impas SEC ETF, ale inwestorzy przegrywaj\u0105"},"content":{"rendered":"<ul class=\"wp-block-list\"><li><strong>Digital Currency Group (DCG), firma prowadz\u0105ca CoinDesk, ma sp\u00f3\u0142k\u0119 zale\u017cn\u0105 o nazwie Grayscale.<\/strong><\/li><li><strong>Grayscale ponios\u0142oby znaczn\u0105 strat\u0119 w dochodach z op\u0142at, gdyby GBTC zosta\u0142o przekonwertowane na ETF, poniewa\u017c firma pobiera op\u0142at\u0119 w wysoko\u015bci 2 procent od aktyw\u00f3w bazowych niezale\u017cnie od dyskonta.<\/strong><\/li><li><strong>Selkis uwa\u017ca jednak, \u017ce Grayscale nie przejmie inicjatywy, poniewa\u017c wymaga\u0142oby to utraty setek milion\u00f3w op\u0142at.<\/strong><\/li><\/ul><hr>\n\n\n\n<p>Decyzja SEC jest du\u017cym ciosem dla sp\u00f3\u0142ki-matki GBTC, Grayscale Investments, kt\u00f3ra agresywnie promuje trust jako spos\u00f3b na inwestowanie w Bitcoin bez konieczno\u015bci radzenia sobie ze skomplikowanymi kwestiami zwi\u0105zanymi z faktycznym posiadaniem kryptowaluty.<\/p>\n\n\n\n<p>Jest to tak\u017ce pora\u017cka dla szerszej bran\u017cy kryptowalut, kt\u00f3ra ci\u0119\u017cko pracowa\u0142a, aby przekona\u0107 organy regulacyjne, \u017ce Bitcoin jest legaln\u0105 klas\u0105 aktyw\u00f3w wart\u0105 inwestycji.<\/p>\n\n\n\n<p>G\u0142\u00f3wn\u0105 obaw\u0105 SEC wydaje si\u0119 by\u0107 brak wystarczaj\u0105cej p\u0142ynno\u015bci na rynku Bitcoina oraz to, \u017ce akcje GBTC mog\u0105 nie odzwierciedla\u0107 dok\u0142adnie aktyw\u00f3w bazowych.<\/p>\n\n\n\n<p>Podczas gdy <a href=\"https:\/\/bitcoinwisdom.com\/pl\/grayscale-sues-united-states-sec-over-bitcoin-etf-application-rejection\/\" class=\"ek-link\">Skala szaro\u015bci<\/a> pozwa\u0142 SEC w celu przekonania ich do ponownego rozwa\u017cenia sprawy, Ryan Selkis z Messari Research przedstawi\u0142 kilka mo\u017cliwo\u015bci, kt\u00f3re jego zdaniem mog\u0105 wynika\u0107 z tego ba\u0142aganu.<\/p>\n\n\n\n<p>W przypadku konwersji GBTC na ETF by\u0142aby to znaczna strata w przychodach z op\u0142at dla skali szaro\u015bci. Dzieje si\u0119 tak, poniewa\u017c Grayscale pobiera op\u0142at\u0119 2% od aktyw\u00f3w bazowych, niezale\u017cnie od rabatu. Je\u015bli <a href=\"https:\/\/grayscale.com\/products\/grayscale-bitcoin-trust\/\" rel=\"nofollow noopener\" target=\"_blank\">GBTC<\/a> sta\u0142by si\u0119 funduszem ETF, nie podlega\u0142by ju\u017c tej op\u0142acie. W rezultacie by\u0142by to znacz\u0105cy cios dla wynik\u00f3w finansowych Grayscale.<\/p>\n\n\n\n<p>Przychody Grayscale zosta\u0142yby zniszczone o ponad 50% w wyniku \u201ewygranego\u201d procesu s\u0105dowego i ewentualnej konwersji ETF. ETF obejmowa\u0142by szeroko otwarte okno wykupu i by\u0107 mo\u017ce ni\u017csze koszty w celu utrzymania AUM (aktyw\u00f3w pod zarz\u0105dzaniem). <\/p>\n\n\n\n<p>Selkis stwierdzi\u0142<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>M\u00f3wimy o stracie dla DCG na poziomie prawie $200 milion\u00f3w rocznie. <\/p><\/blockquote>\n\n\n\n<p>Pozostaje pytanie, czy Grayscale promuje ETF w dobrej wierze. A mo\u017ce w tajnej kryj\u00f3wce Silberta w Stamford zam\u00f3wiono gigantyczn\u0105 fars\u0119?<\/p>","protected":false},"excerpt":{"rendered":"<p>Digital Currency Group (DCG), firma zarz\u0105dzaj\u0105ca CoinDesk, ma sp\u00f3\u0142k\u0119 zale\u017cn\u0105 o nazwie Grayscale. Grayscale poni\u00f3s\u0142by znaczn\u0105 strat\u0119 w dochodach z op\u0142at, gdyby GBTC zosta\u0142o zamienione na fundusz ETF, poniewa\u017c firma pobiera 2-procentow\u0105 op\u0142at\u0119 od aktyw\u00f3w bazowych niezale\u017cnie od rabatu. Selkis uwa\u017ca jednak, \u017ce Grayscale nie przejmie inicjatywy, poniewa\u017c [\u2026]<\/p>","protected":false},"author":13,"featured_media":8137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","_uag_custom_page_level_css":"","footnotes":""},"categories":[190,12],"tags":[135,172],"class_list":["post-8062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-news","tag-blockchain","tag-crypto"],"acf":[],"uagb_featured_image_src":{"full":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/06\/Barry-Silbert-Of-Dcg-Wins-The-SEC-ETF-Deadlock-But-Investors-Lose-According-To-Messari-Research.jpg",1279,854,false],"thumbnail":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/06\/Barry-Silbert-Of-Dcg-Wins-The-SEC-ETF-Deadlock-But-Investors-Lose-According-To-Messari-Research-500x330.jpg",500,330,true],"medium":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/06\/Barry-Silbert-Of-Dcg-Wins-The-SEC-ETF-Deadlock-But-Investors-Lose-According-To-Messari-Research-300x200.jpg",300,200,true],"medium_large":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/06\/Barry-Silbert-Of-Dcg-Wins-The-SEC-ETF-Deadlock-But-Investors-Lose-According-To-Messari-Research-768x513.jpg",640,428,true],"large":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/06\/Barry-Silbert-Of-Dcg-Wins-The-SEC-ETF-Deadlock-But-Investors-Lose-According-To-Messari-Research-1024x684.jpg",640,428,true],"1536x1536":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/06\/Barry-Silbert-Of-Dcg-Wins-The-SEC-ETF-Deadlock-But-Investors-Lose-According-To-Messari-Research.jpg",1279,854,false],"2048x2048":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/06\/Barry-Silbert-Of-Dcg-Wins-The-SEC-ETF-Deadlock-But-Investors-Lose-According-To-Messari-Research.jpg",1279,854,false],"trp-custom-language-flag":["https:\/\/bitcoinwisdom.com\/wp-content\/uploads\/2022\/06\/Barry-Silbert-Of-Dcg-Wins-The-SEC-ETF-Deadlock-But-Investors-Lose-According-To-Messari-Research.jpg",18,12,false]},"uagb_author_info":{"display_name":"Barinem Pene","author_link":"https:\/\/bitcoinwisdom.com\/pl\/author\/barinem\/"},"uagb_comment_info":0,"uagb_excerpt":"Digital Currency Group (DCG), the company that runs CoinDesk, has a subsidiary called Grayscale. Grayscale would suffer a significant loss in fee income if GBTC were converted to an ETF because the company charges a 2 percent fee on the underlying assets regardless of the discount. Selkis, though, believes Grayscale won&#8217;t take the initiative since&hellip;","_links":{"self":[{"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/posts\/8062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/comments?post=8062"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/posts\/8062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/media\/8137"}],"wp:attachment":[{"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/media?parent=8062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/categories?post=8062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinwisdom.com\/pl\/wp-json\/wp\/v2\/tags?post=8062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}