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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. 13, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original Source
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“Recent extreme market volatility showed Arbitrum is still the lead performer in the L2 race, capturing six times the 24-hour trading volume of Optimism, and 25 times that of Base," Ben Yorke, WOO Ecosystem VP said in a note shared with CryptoX, referring to layer-2 blockchains. "That said, what’s clear
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After FTX scrutinized 75 bidders that were interested in restarting the distressed cryptocurrency exchange, only three firms, including Bullish, Figure Technologies, and Proof Group, have been chosen. The future of the bankrupt cryptocurrency exchange FTX Trading Ltd, popularly known as FTX, is expected to be decided before the end of this
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Part of the shortlisted investors that want to relaunch FTX includes Proof Group. After former FTX boss Sam Bankman-Fried (SBF) was found guilty of all the charges by a court jury last week, reports have emerged of shortlisted venture capital firms seeking to relaunch the former top-rated cryptocurrency exchange. According to
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Cryptocurrency exchange Coinbase narrowed its net loss to $2 million in the third quarter, as inotched a year-on-year increase in revenue despite lower trading volumes. The firm’s net loss in Q3 was trimmed from a $545 million net loss in the prior year period, according to a Nov. 2 earnings
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The narrowing of the discount likely represents increased likelihood that Grayscale will be able to convert its close-ended bitcoin trust into a spot-based exchange-traded fund. Source
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The Grayscale Bitcoin Trust (GBTC) share price has again made headlines. Its premium or discount to Bitcoin’s net asset value (NAV), often
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The gap between Bitcoin’s price and GBTC shares has narrowed after the SEC rejected Grayscale’s application to convert its trust into an exchange-traded fund (ETF). In the last year, many investors reportedly profited from the anticipation that the U.S. Securities and Exchange Commission (SEC) would greenlight a product directly pegged to
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“The market is weighing higher odds that Grayscale will be able to convert its ETHE product into an ETF following the push from traditional finance giants into the space,” Lucas Outumuro, head of research at crypto analytics firm IntoTheBlock, noted in a report. Original Source
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