Cryptocurrency Analysis and News Portal
Cathie Wood’s ARK Investment Management increased its holdings of the Grayscale Bitcoin Investment Trust (GBTC) by 2.14 million shares in the fourth quarter of 2020, bringing its holdings of the market-leading institutional bitcoin investment vehicle to 7.31 million shares. Source
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The disclosure comes as BlockFi prepares to launch a competitor bitcoin trust product. Source
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Crypto lender BlockFi has launched its bitcoin trust with an annual fee that falls 0.25% below what industry-leader Grayscale Bitcoin Trust (GBTC) charges investors. With a 1.75% management fee, the fund started taking subscriptions last Friday and the fund has nearly $30 million in assets under management, according to its website.
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Miller Value Funds – run by veteran hedge fund manager and bitcoin bull Bill Miller – may invest in the Grayscale Bitcoin Trust through its flagship fund, the Miller Opportunity Trust. “The Fund may seek investment exposure to bitcoin indirectly by investing in the Grayscale Bitcoin Trust, an entity that holds
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Crypto capital markets firm CrossTower is launching a hedge fund at the end of the month in a bid to compete with Grayscale’s Bitcoin Trust (GBTC) and other bitcoin funds for accredited investors.Similar to how Tesla’s boom created a larger demand for electric-vehicle stocks, the success of GBTC with $20
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A firm called Osprey Funds is offering an over-the-counter, or OTC, Bitcoin (BTC) trust under the ticker symbol OBTC. The trust is similar to Grayscale’s Bitcoin Trust, known as GBTC.“The Osprey Bitcoin Trust provides easy access to bitcoin,” the firm’s website says. “With a 0.49% management fee, it is the
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The demand for the Grayscale Bitcoin Trust (GBTC) continues to rise with its premium surpassing 30% on Dec. 3. This indicates that Bitcoin (BTC) is seeing increasing institutional demand as its price consolidates above $19,000.The Grayscale Bitcoin Trust is an institutional vehicle that is tradable in the United States through
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Guggenheim Funds Trust filed an amendment with the U.S. Securities and Exchange Commission to allow its $5 billion Macro Opportunities Fund gain exposure to bitcoin by investing up to 10% of the fund’s net asset value in the Grayscale Bitcoin Trust (GBTC). Source
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Quick take:The share price of Grayscale Bitcoin Trust (GBTC) has increased by 63% since October 1stGrayscale continues to accumulate Bitcoin (BTC) owning approximately 2.7% of the total supplyInvestors who believe Bitcoin is overpriced could be buying GBTC as a long term holdThe share price of the Grayscale Bitcoin Trust (GBTC)
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At a macro level, the Bitcoin price bottomed every time the premium of Grayscale Bitcoin Trust (GBTC) fell substantially to a local low. After showing a 30 percent premium in March, GBTC markups fell steeply.Historical Bitcoin data shows a steep decline in GBTC premium led to extended ralles (Source: Bitcoin
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