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Tag: GBTC

Impact of Spot Bitcoin ETF Approval on Grayscale and Other Funds!

Crypto investments Mark Lagarde -
Recent developments in the crypto investment landscape, particularly the approval of spot bitcoin exchange-traded funds (ETFs), have led to significant shifts in holdings across various funds. Notably, Grayscale’s Bitcoin Trust (GBTC) has experienced a substantial reduction in its Bitcoin holdings, while ETFs like those from Blackrock and Fidelity have seen growth in their Bitcoin assets.

Crypto Markets Bullish About The Possibility Of Soon-To-Be Approved Bitcoin EFTs!

FinTelegram tamir -
The crypto community is buzzing with anticipation as the U.S. Securities and Exchange Commission (SEC) nears a pivotal decision period for approving Bitcoin exchange-traded funds (ETFs). The Bitcoin price has risen to almost $37,000 in the last few hours in hopes that the SEC will soon approve Bitcoin ETFs. The possibility of the SEC greenlighting as many as 12 pending spot Bitcoin ETF applications by mid-November looms large.

Crypto War: Hedge Fund Fir Tree Filed Lawsuit Against Grayscale

Court Cases tamir -
The big players in the global crypto scene are waging war against each other. New York-based hedge fund Fir Tree Capital Management is suing Grayscale Investments for information to investigate potential mismanagement and conflicts of interest at its $10.7 billion Grayscale Bitcoin Trust (GBTC), Bloomberg reports. GBTC is trading at a 43% discount to the value of the Bitcoin it holds, partly because the firm issued many shares in the past few years and didn’t redeem any of them.

End Game: Collapsed Bitcoin And High Energy Prices Threaten To Kill U.S. Crypto Miners!

Bankruptcies tamir -
The liquidity crisis in the crypto segment continues to spread. It looks like hardly any crypto exchange, broker, or lender will emerge unscathed from the bankruptcy tsunami. This also applies to Bitcoin miners who sell their Bitcoins almost as fast as they mine. Bitcoin miners are selling their coins at record levels, last seen in 2016. Most big mining players in the U.S face severe financial pressure, and some have already filed for bankruptcy. It seems to be the endgame!

Crypto Contagion Spreads Spreads With BlockFi Liquidity Crisis And GTBC Price Collapse!

Bankruptcies Ben -
There is currently sentiment on Twitter against the next crash candidate in the crypto space. Grayscale Bitcoin Trust (GBTC), the world’s largest cryptocurrency fund, has become caught up in the FTX crypto aftermath. The share price of the $10.5bn GBTC, which owns 3.5% of the world’s bitcoin, has plummeted to a 39% discount to the NAV. Troubled crypto lender BlockFi, GBTC's second-largest shareholder, allegedly prepares for bankruptcy!

Osprey Bitcoin Fund – A low-cost bitcoin trust about to be listed at OTCQX

Crypto-Trading Mark Lagarde -
The BTC is currently oscillating around $37,000 with a resulting market cap of around $680B. ETH is holding at over $1,200 with a market cap of around $140B. No surprise that new crypto-related financial instruments are emerging, such as Greg King's Osprey Bitcoin Trust (www.ospreyfunds.io), whose shares started to trade on the OTC market in New York a few days ago. This has given competition to Barry Silbert's Grayscale Bitcoin Trust and may drive additional demand for BTC.

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