Grayscale Investments has urged the U.S. Securities and Exchange Commission (SEC) to approve all spot bitcoin exchange-traded fund (ETF) applications simultaneously. In a statement to the agency, Grayscale said that an approval of only the listed proposals would grant an unfairly discriminatory and prejudicial first-mover advantage to these proposals. Grayscale is currently locked in a legal battle with the SEC to have its own application to convert its Grayscale Bitcoin Trust (GBTC) into an ETF.
Meanwhile, Bitcoin (BTC) held above $29,000 early Friday while Japanese and U.S. government bond yields rose after the Bank of Japan (BOJ) announced a slight hawkish tweak to its liquidity-boosting bond-buying program known as yield curve control (YCC).
Mark Yusko, Morgan Creek Capital Management founder and CEO, predicted that Bitcoin could reach $300,000 by 2028. Yusko made the prediction while comparing Bitcoin to gold, noting that Bitcoin is portable and divisible, whereas gold is not. The monetary value of gold is about $6 trillion, I think bitcoin can replace all of that, the monetary equivalent of $6 trillion is about a 10X from here, which gives us a price of about $300K, said Yusko.