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Investors are betting on GBTC because of the “BlackRock filing and optimism that [the firm] may have cracked the code on an ETF, giving hope that Grayscale could also convert and remove the discount,” Doug Schwenk, CEO of crypto data provider Digital Asset Research, said in a note to CoinDesk. Original
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There is a renewed hope that the US Securities and Exchange Commission (SEC) may finally approve a spot Bitcoin ETF. Grayscale’s Bitcoin Investment Trust (GBTC) is currently enjoying some attention from investors, and its trading volume is a testament to this fact. This follows after GBTC’s trading volume spiked by over
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The surge came as investors turned optimistic about being able to redeem funds in the future, and Grayscale potentially winning an on-going lawsuit against the U.S. Securities and Exchange Commission (SEC) about converting the fund into an ETF after news about BlackRock’s filing for an ETF. GBTC doesn’t allow redemptions
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The three judge panel appeared skeptical of the SEC’s reasoning for denying conversion of the trust to an ETF. Original Source
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Laurent Kssis, a crypto trading adviser at CEC Capital, said that with GBTC trading at such a discount it makes sense to hold some of the shares, however, traders must be brave if bitcoin’s price continues to slide. Kssis said that he is not hearing of investors buying more GBTC
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Grayscale Investments CEO Michael Sonnenshein stated he “can’t imagine” why the United States Securities and Exchange Commission (SEC) “wouldn’t want” to protect Grayscale investors and return the true asset value to them, in a recent podcast interview.In an interview with What Bitcoin Did, a popular podcast hosted by Peter McCormack,
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Digital asset manager Osprey Funds filed suit against Grayscale Investments in Connecticut Superior Court on Jan. 30, alleging violation of the state’s Unfair Trade Practices Act. The suit concerns Grayscale advertising and promotion of the Bitcoin (BTC) exchange-traded fund (ETF) it is seeking to create. Osprey stated in the suit that
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Cathie Wood's Ark Invest offloaded a chunk of its Grayscale Bitcoin Trust (GBTC) shares since November's Bitcoin (BTC) price lows, the latest data shows.Cathie Wood's Ark short-term cautious on GBTCArk Invest added 450,272 GBTC shares worth $4.5 million to its ARK Next Generation Internet ETF (ARKW) in November 2022. At the time,
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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: TradingViewPowell to kick off week of U.S. macro triggersData from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating after hitting $17,396 on Bitstamp
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Morgan Stanley warned that the value of GBTC may drop ‘precipitously’ to zero due to regulatory changes, a crisis of confidence, a flaw, or an operational issue in the Bitcoin network.Morgan Stanley (NYSE: MS) has announced that its European Fund has set aside cash to invest in the Bitcoin market.
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