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Tag: Grayscale Bitcoin Trust

Crypto
ETF

January 4, 2024

Goldman Sachs Eyes Pivotal Role in Bitcoin ETFs Alongside BlackRock and Grayscale

In the dynamic landscape of the crypto sector, all eyes are on the potential approval of crypto exchange-traded funds (ETFs) by the U.S. SEC. Recent speculation suggesting a delay in the approval process, including that of BlackRock, triggered a temporary dip in crypto prices. Amid the uncertainties, rumors are circulating that Goldman Sachs is positioning itself as an authorized participant in the proposed BlackRock and Grayscale crypto ETF.

September 24, 2023

People Radar: Meet Rock Star Investor and Crypto Advocate Cathie Wood!

Cathie Wood is certainly a Rock Star investor and bullish about tech and cryptocurrencies. Born in November 1955 in Los Angeles, California, she is best known as the founder, CEO, and CIO of ARK Invest, a leading investment management firm. She is arguably the world's most influential investor in technology today and has earned a reputation as an evangelist for disruptive innovations. Meet her on FinTelegram.

June 29, 2023

The Crypto Rat Race Continues With Fidelity Investments

Fidelity Investments, a prominent asset management firm, is making another attempt to launch a spot Bitcoin ETF. This move follows BlackRock's recent filing for a spot bitcoin ETF, despite the U.S. Securities and Exchange Commission (SEC)'s historical resistance. WisdomTree, VanEck, Invesco, and Ark Invest, led by celebrity investor Cathie Wood, have taken steps toward their own Bitcoin funds, aligning them closer to BlackRock's application.

June 16, 2023

Remarkable: BlackRock Files For Spot Bitcoin ETF And Names Coinbase As A Crypto Custodian!

BlackRock, one of the world's largest asset management firms, has taken its initial steps towards introducing a bitcoin exchange-traded fund (ETF). On Thursday, the company submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch the iShares Bitcoin Trust. If approved, this ETF would provide investors with convenient access to cryptocurrency through a product offered by one of Wall Street's largest companies.

December 8, 2022

Crypto War: Hedge Fund Fir Tree Filed Lawsuit Against Grayscale

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.

November 23, 2022

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

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!

November 18, 2022

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

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!

June 30, 2022

US Crypto Fund Grayscale Sues SEC For Rejecting Its ETF Application!

The US crypto investment firm Grayscale Investments (https://grayscale.com) has sued the U.S. Securities and Exchange Commission (SEC) after the regulator rejected its application to transform its flagship Grayscale Bitcoin Trust into a spot Bitcoin Exchange-Traded Fund (ETF). The SEC rejected Grayscale’s application because the $40B Bitcoin Trust failed to meet consumer protection requirements including measures “designed to prevent fraudulent and manipulative acts and practices.”

Crypto-Trading

January 18, 2021

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

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.

Crypto-Trading

January 15, 2021

Exchange-traded crypto securities on the rise

More and more traditional investors, and especially institutional investors, want to diversify into crypto assets without getting involved in crypto exchanges or OTC themselves. They invest in exchange-traded securities that have a direct crypto connection. In the U.S., the market leader is Grayscale Investments with several crypto-related products, and in Europe, Germany's ETC Group is one of the market leaders. Trading in crypto-related products exploded in early 2021.

January 2, 2021

Crypto Year 2021 – Crypto pioneer Grayscale Investments of Barry Silbert celebrates records

The crypto bull-run happened amidst the COVID-19 pandemic. Bitcoin (BTC) finished 2020 just shy of $30,000 with a market cap of around $530 billion. A year ago, the price had been $7,100. 2020 was the year of institutional investors and PayPal's entry. With the crypto explosion, the digital Assets Under Management (AUM) of Barry Silbert's pioneering Grayscale Investments crypto trusts have surpassed the $20 billion mark. That's quite something, isn't it?

Former Lebanon Central Bank Governor Riad Salameh Charged with Financial Crimes

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.

Prosecuted Telegram CEO Durov Challenges Personal Liability for Platform Misuse!

The prosecuted Telegram CEO Pavel Durov argues that holding CEOs personally liable for platform misuse is an outdated practice that threatens innovation. Following his Paris arrest, Durov emphasized that platforms like Telegram must adapt to rapid growth, but outdated liability standards should not stifle progress. His case highlights the ongoing debate about balancing innovation, privacy, and regulation in the tech world.

U.S. Regulator CFTC Lost Court Case Against Kalshi Legal Battle Over Election Bets!

KalshiEx is a U.S.-based prediction market platform that sought to offer trading in derivatives contracts based on the outcomes of Congressional elections, which the CFTC prohibited. KalshiEx challenged the regulator's decision in court and won, opening the door for election-based derivatives markets in the U.S. However, the CFTC is seeking a temporary stay.

Germany: Accomplices in Fraudulent Cyber Trading Platforms Charged by Karlsruhe Prosecutor!

The Baden-Württemberg Cybercrime Center in Germany has announced that it charged three suspects linked to an international fraud scheme that cost over 820 victims more than €5 million. The case marks a significant step in combating organized cyber trading fraud but underscores the growing complexity of such operations that often rely on an international division of labor.

Influencers

Influencers and Financial Crimes: A Short Guideline and a Request for Whistleblower Information!

Recently, the influencer industry has come under increased scrutiny from regulatory bodies worldwide. The case of Turkish influencers Dilan Polat and Engin Polat, facing $30 million money laundering charges and allegations of operating an illegal betting ring, perfectly demonstrates the potential legal risks in this sector. This high-profile case has prompted authorities to investigate hundreds of other influencers for potential financial crimes.