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Grayscale has updated the agreement to optimize its conversion into a spot Bitcoin (BTC) ETF. The corresponding document appeared on the website of the US Securities and Exchange Commission (SEC). The fund also wants to level the playing field when it comes to other suitors such as asset management giant BlackRock. The
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“Today, Grayscale has outlined proposed amendments to GBTC’s Trust Agreement that are intended to provide operational efficiencies that we believe are beneficial to both Grayscale and GBTC," a Grayscale spokeswoman said via email. "Importantly, this is in our normal course of business, and GBTC remains ready to uplist as a
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The discount on Grayscale’s Bitcoin Trust known as GBTC continued to shrink as of Nov. 27, likely due to mounting anticipation for a regulatory nod toward spot Bitcoin ETFs. GBTC’s discount to net asset value (NAV) gradually fell to 8%, seemingly fueled by industry hype surrounding a raft of spot Bitcoin
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The latest price moves in bitcoin [BTC] and crypto markets in context for Nov. 27, 2023. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
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The discount shrank to 8.6% on Friday, the lowest since July 2021, in a sign of escalating optimism that a spot bitcoin exchange-traded fund (ETF) will finally be approved in the U.S. Analysts attributed the improvement to Grayscale's meeting with the Securities and Exchange Commission (SEC) about turning the trust
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If the entire $2.7 billion exits the bitcoin market, it would exert significant downward pressure on bitcoin prices, the authors stated. However, if most of this $2.7 billion transitions into other bitcoin instruments, such as the newly established spot bitcoin ETFs post SEC approval, the negative market impact would be
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Cathie Wood’s investment firm ARK Invest has sold 700,000 shares of the Grayscale Bitcoin Trust (GBTC) over the past month, even as Bitcoin (BTC) hit 17-month highs over excitement for a possible spot Bitcoin exchange-traded fund (ETF).The ARK Next Generation Internet ETF (ARKW) sold 36,168 GBTC shares on Nov. 22,
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The latest price moves in bitcoin [BTC] and crypto markets in context for Nov. 13, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original Source
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