Cryptocurrency Analysis and News Portal
Cryptocurrency conglomerate Digital Currency Group (DCG) has reportedly begun to sell its holdings in crypto funds managed by its subsidiary Grayscale Investments as it looks to raise capital and preserve liquidity.According to a Feb. 7 Financial Times report citing seen United States securities filings, DCG sold around a quarter of
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According to the FT report citing filings, DCG's recent share sales have focused on the ethereum fund, where the group has moved to sell about a quarter of its stock to raise as much as $22M in several trades since January 24. The company is selling at about $8 per
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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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The approach to crypto regulatory enforcement by the United States Securities and Exchange Commission (SEC) stalled the advancement of Bitcoin (BTC) in the country, according to the CEO of Grayscale Investments.In a letter published in The Wall Street Journal on Jan. 23, the chief of the cryptocurrency asset management firm,
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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 Trust (GBTC) into a spot-based Bitcoin (BTC) exchange-traded fund (ETF). The brief, filed in the District of Columbia Circuit Court, addressed points made
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Grayscale countered that argument Friday. It said that "a successful manipulation of prices in the spot bitcoin market would necessarily affect the price of bitcoin futures as well – and, therefore, the value of bitcoin futures ETPs’ holdings." Grayscale called the SEC's reasoning "illogical." Source
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“The GBTC discount compressing may be the product of traders betting on either the complete unwind of the trust or Grayscale being forced to enable full/partial redemptions,” said Sean Farrell, head of digital asset strategy at Fundstrat. “However, it is tough to draw any conclusions just yet since volumes are
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In its latest quarterly update, Grayscale announced the rebalancing of funds for the fourth quarter of 2022. As part of the rebalancing, Grayscale sold off a certain amount of its Digital Large Cap Fund and dumped its held tokens, including Avalanche Network token AVAX. AVAX has slipped by 2% following the
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Along with the Ethereum Trust, several other Grayscale products are trading at steep discounts recently as parent firm DCG is grappling with liquidity issues.The shares of the Grayscale Ethereum Trust (ETHE) have been on a steep decline and have dropped by more than 90% since its all-time high in 2019.
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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 ongoing decline, but in recent weeks fears have grown that fallout from parent company Digital
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