Cryptocurrency Analysis and News Portal
“There has been a significant surge in the price of bitcoin recently, which, combined with increasing regulation, has forced Grayscale to somewhat decouple GBTC from the price of bitcoin, which may have undermined the value of GBTC,” said Sheraz Ahmed, managing partner at Storm Partners. Source
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A United States appeals court is set to hear the oral arguments relating to Grayscale Investment’s lawsuit against the Securities and Exchange Commission (SEC) over its decision to deny Grayscale’s Bitcoin (BTC) spot exchange-traded fund (ETF).As per a court motion filed on Jan. 23, both sides will present their arguments
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Following charges by the U.S. Securities and Exchange Commission against the crypto exchange Gemini and the digital currency lender Genesis, Tron founder Justin Sun told the press that he may be able to purchase assets from Genesis, up to $1 billion, “depending on their evaluation of the situation.” Additionally, the
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Valkyrie Investments, a Tennessee-based asset manager, has announced its intention to become the new sponsor of Grayscale’s Bitcoin Trust (GBTC). The company states that it is “uniquely qualified” for the role and plans to facilitate redemptions at net asset value (NAV) through a Regulation M filing. Valkyrie Offers to Take Over
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After Grayscale Investments shared information concerning the company’s product holdings, people questioned why the firm wouldn’t share the public addresses associated with the crypto assets it holds. However, on Nov. 23, OXT researcher Ergo published a Twitter thread featuring onchain forensics that confirm Coinbase Custody holds a balance of 633K
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On Nov. 18, 2022, at 5:47 p.m. (ET), Grayscale Investments’ official Twitter account shared information on the safety and security associated with Grayscale’s digital asset products. The update from Grayscale follows the recent FTX collapse that has shaken crypto investors, and Digital Currency Group’s (DCG) Genesis pausing the firm’s lending
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Ark Investment Management purchased 315,259 shares worth about $2.8 million in the Grayscale Bitcoin Trust (GBTC) with GBTC currently trading near a record discount to net asset value (NAV) following FTX’s collapse. Grayscale and CryptoX are both owned by the same parent company, Digital Currency Group. Source
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The crypto winter has clearly been rough for the miners, who have seen profit margins shrink as bitcoin prices plunged more than 50% this year, while power prices soared and capital dried up. This has directly hurt prices for infrastructures required for bitcoin mining, including the highly specialized computers, which
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Grayscale Investment’s Bitcoin Trust (GBTC) has dropped to a new low this week as the bitcoin fund tapped a record 35.18% low against bitcoin spot prices. GBTC’s discount to spot has been underwater for a total of 577 consecutive days. GBTC Discount to NAV Widens by 35% — Fund Reaches an
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Though relatively minor trusts, any uncertainty surrounding this trio’s legal status – namely, whether they are securities – underscores the stakes of Grayscale’s regulatory gamble. Its trust business presumes these cryptos are not securities; if it determines otherwise, it says in the filings, it may have to pull the plug
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