Grayscale appealed the SEC’s denial of its application to create a spot BTC ETF in June; the case “is moving swiftly,” according to the Grayscale chief legal officer. Grayscale filed a reply brief in its appeal of the United States Securities and Exchange Commission (SEC) denial of its application to convert its $12-billion Grayscale Bitcoin…
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Bitcoin, crypto and risk asset traders await dovish signals from Fed Chair Jerome Powell ahead of fresh CPI data later in the week. Bitcoin (BTC) stayed above $17,000 on Jan. 10 as risk assets awaited fresh cues on policy from the United States Federal Reserve. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell to kick…
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Renowned crypto firm Arcane Research has issued a warning to Bitcoin (BTC) and Ethereum (ETH) investors in light of the escalating events surrounding Digital Currency Group (DCG), Genesis, and Grayscale. In an article by analyst Vetle Lunde, the firm warns: Investors should pay attention to the ongoing financial distress related to Digital Currency Group (DCG)…
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Grayscale’s Ethereum, Litecoin and Bitcoin Cash Trusts are at steep discounts as concerns whirl around Digital Currency Group’s liquidity. The Grayscale Ethereum Trust (ETHE) is trading at nearly a 60% discount to the underlying value of its assets, with shares falling 93% from its Jun. 2019 all-time high (ATH). There are many reasons behind the…
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The Grayscale Ethereum Trust (ETHE) is currently trading at a steep discount to its assets under management (AUM) amid dwindling institutional interest in the fund. As of now, the fund’s discount to net asset value (NAV) has plunged to a record 60%, the lowest premium rate since the inception of the ETHE. ETHE’s premium rate started…
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The pressure on the Digital Currency Group (DCG) and Grayscale continues to mount. The Winklevoss twins have given DCG an ultimatum of January 8th to return the $900 million Gemini Earn customer funds, while the users themselves have filed a class action lawsuit against both companies. In addition, in what is believed to be a…
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The pressure continues to mount on Grayscale with its Bitcoin Trust (GBTC) and parent company Digital Currency Group. And as Ram Ahluwalia, CEO and co-founder of crypto-native investment advisor Lumida, pointed out in a recent thread, two new characters, Valkyrie Investments and Fir Tree have entered the “Shakespearean drama.” The motivation of the second, in…
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After Grayscale Investments shared information concerning the company’s product holdings, people questioned why the firm wouldn’t share the public addresses associated with the crypto assets it holds. However, on Nov. 23, OXT researcher Ergo published a Twitter thread featuring onchain forensics that confirm Coinbase Custody holds a balance of 633K bitcoin that likely belongs to…
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The Bitcoin price plunged to a new bear market low at $15,487 on Monday after rumors intensified that Genesis Trading and Digital Currency Group (DCG), which also owns Grayscale with its 635,000 BTC strong GBTC, would go bankrupt. Since then, the Bitcoin price is recording a relief rally. At press time, Bitcoin was trading at…
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ARK Invest scoops up bargains as Coinbase shares hit all-time lows and GBTC trades at a near-50% discount to the already suppressed Bitcoin spot price. Bitcoin (BTC) firms’ shares are a major “buy” for asset manager ARK Invest in the midst of the FTX meltdown. The latest data confirms that ARK continues to up its…
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