Grayscale Investments, the leading digital asset manager by assets under management (AUM), unveiled on Thursday its latest submission to the U.S. Securities and Exchange Commission (SEC). This move seeks to list the Grayscale Bitcoin Trust (GBTC) as a spot exchange-traded fund (ETF) on NYSE Arca. Grayscale’s latest S-3 submission comes on the heels of Grayscale’s…
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Bitcoin analysis flags liquidity waiting in the wings above and below the current BTC price range, while GBTC erases more of its discount. Bitcoin (BTC) ranged around the key $26,800 mark for a second day on Oct. 13 with a decision due in United States regulators’ battle with crypto investment giant Grayscale. BTC/USD 1-hour chart.…
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Grayscale’s Bitcoin Trust, known as GBTC, has witnessed a significant shift in its market dynamics. In January 2023, GBTC traded at a significant 48.31% discount to its net asset value (NAV). Today, that gap has narrowed to 16.59%, indicating changes in market sentiment and presenting potential implications for investors. End of 2023 Sees GBTC’s Discount…
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The SEC must appeal Grayscale’s win in a D.C. Appeals Court on Oct. 13, or it will have to approve — or try to delay — the firm’s Bitcoin ETF bid. The United States Securities and Exchange Commission will soon reach its deadline to appeal the court decision that ruled in favor of Grayscale Investments,…
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Bitcoin started the week with an uptick in investor sentiment, but there are three major factors preventing BTC price from recapturing the $30,000 level. On Oct. 2, the price of Bitcoin (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether…
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The recent federal judge’s rulings overturning the SEC’s rejection of Grayscale’s application to convert its Bitcoin Trust (GBTC) into an ETF have indeed increased the likelihood of a spot Bitcoin ETF approval by the SEC. The judge’s decision highlighted the SEC’s failure to provide a clear rationale for its rejection, signaling a potential shift in…
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The Grayscale Bitcoin Trust (GBTC) share price has again made headlines. Its premium or discount to Bitcoin’s net asset value (NAV), often viewed as an indicator of institutional sentiment towards the cryptocurrency, has displayed a notable trend recently, even amid the prevailing bearish atmosphere. GBTC’s Evolving Price Dynamics The phenomenon of GBTC’s share price inching closer…
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In a September 6 thread on X, Arkham Intelligence, an on-chain analytics platform, asserted that Grayscale is the second-largest BTC entity worldwide with over 1,750 wallet addresses associated with the holdings of Grayscale Bitcoin Trust (GBTC). Although each wallet contains less than 1,000 BTC (equivalent to $25.7 million), when aggregated, they amass approximately $16.1 billion…
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“We believe the Trust’s nearly one million investors deserve this fair playing field as quickly as possible,” Grayscale’s lawyers wrote to the regulator. Grayscale has told the Securities and Exchange Commission it has no legal reasoning left to block the conversion of the asset manager’s flagship Bitcoin (BTC) fund to a spot exchange-traded fund (ETF).…
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GBTC shares trading at a lower implied value to BTC price may soon be a thing of the past, a new prediction says. Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC), could erase its BTC price “discount” in 2024. In an X (formerly Twitter) post on Aug. 30, monitoring resource CoinGlass predicted that the…
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