Ark Invest – the technology-focused investment firm founded by Cathie Wood – has aped into Grayscale’s Bitcoin Trust (GBTC) after the world-leading digital asset fund marked another record-low discount last week. Ark Investment Management bought 315,000 GBTC shares worth roughly $2.8 million on Monday for its ARK Next Generation Internet exchange-traded fund (ARKW). Ark’s purchase...Read More
A recent Grayscale-backed study suggests more than half of Americans agree that “cryptocurrencies are the future of finance.” The sentiment appears to span across the political aisle, as both 59% of Democrats and 53% of Republicans agree with the statement. Who Loves Crypto? The study, conducted by The Harris Poll on Grayscale’s behalf, surveyed over...Read More
Grayscale’s lawsuit against the SEC has started gaining traction as prominent names from the crypto industry rallied behind the asset manager. The latest one to chime in is Coinbase. The cryptocurrency exchange has filed an amicus brief backing Grayscale Investment’s lawsuit against the United States Securities and Exchange Commission (SEC) for disapproving the company’s proposal...Read More
It has been a dull weekend for Bitcoin struggling to clear the $20,000 resistance zone. Further indicating a potential case of dwindling institutional interest in the flagship cryptocurrency is the Grayscale Bitcoin Trust (GBTC) discount registering a new record high. It was currently trading at a 36.7% discount against BTC spot prices, setting the largest...Read More
Grayscale stated that the SEC’s application of its “significant market test” is deeply flawed and does not protect investors against potential fraud and manipulation in the underlying BTC markets. The SEC is notorious for turning down dozens of spot Bitcoin ETF applications over the past several years from major players including WisdomTree and Ark21Shares. Grayscale,...Read More
Grayscale – the world’s largest cryptocurrency asset manager – has announced a new investment product providing exposure to Bitcoin mining hardware. The fund will raise money for buying Bitcoin ASIC machines, which will be operated by Foundry Digital to mine and sell Bitcoin on behalf of investors. Grayscale’s Strategic Mining Play According to Grayscale’s website,...Read More
Shares of the Grayscale Bitcoin Trust (GBTC) have never been cheaper relative to the value of the company’s underlying Bitcoin holdings. The GBTC discount has gone below 35% again for the first time since June. While the company’s holdings per share are worth $17.27, the market value of each share is only $11.18. Figures for...Read More
Grayscale – one of the world’s largest cryptocurrency asset managers – may be readying a cash-airdrop for holders of its Ethereum Trust and Digital Large Cap Fund. The cash grant represents the value of ETHPoW (ETHW) tokens that Grayscale investors are entitled to following the network fork, according to a company filing with the SEC...Read More
In its latest Insight report, the world’s largest digital asset manager, Grayscale Investments, compared the current bear market with other market cycles in crypto history to predict when the next bull run could arrive. The Crypto Market Cycles Grayscale noted that, like traditional markets, the cryptocurrency space is cyclical, and the industry is currently experiencing...Read More
Grayscale, whose focus lately has been primarily on turning its flagship Trust into a spot Bitcoin ETF, has removed five altcoins from its Digital Large Cap Fund. The assets in question are Bitcoin Cash, Chainlink, Litecoin, Polkadot, and Uniswap. The statement from earlier this week informed that the largest digital asset manager had sold “certain...Read More
On June 29, the U.S. securities regulator rejected the proposal by Grayscale to list a spot Bitcoin exchange-traded fund (ETF) on the NYSE Arca exchange. According to the SEC, the proposal did not meet standards designed to prevent fraudulent and manipulative market practices. It stated that the rejection was not based on an “assessment of...Read More
Michael Sonnenshein, the CEO of the leading crypto asset manager, Grayscale Investments, believes the launch of ProShares’ Short Bitcoin Exchange-Traded Fund (ETF) could be a positive sign for the industry. SEC Becoming More Comfortable With Bitcoin In a Twitter thread on Tuesday, Sonnenshein noted that he believes the United States Securities and Exchange Commission (SEC)...Read More
The dramatic collapse in UST brought tremendous selling pressure, catching many off-guard. But the subsequent negative macroeconomic conditions have adversely affected the cryptocurrency market as a whole, with institutional demand plunging to the lowest levels. Grayscale Bitcoin Trust (GBTC) Hits Lowest Point The Grayscale Bitcoin Trust, an investment vehicle provided by asset manager Grayscale Investments,...Read More
The world’s largest digital asset manager – Grayscale – hired Donald B. Verrilli as additional legal counsel. With his help, the firm aims to receive the SEC’s approval and finally convert its Bitcoin trust into an exchange-traded fund. Grayscale Reinforces Bitcoin ETF Team In a recent tweet, Grayscale raised hopes that Verrilli could be a...Read More
The world’s largest digital asset manager – Grayscale – will reportedly launch an exchange-traded fund in Europe. The product, tracking the “Bloomberg Grayscale Future of Finance Index,” will go live in the UK, Germany, and Italy. Grayscale’s First ETF in Europe A few weeks ago, CEO – Michael Sonnenshein – disclosed that the company seeks...Read More
Given the total addressable market for digital on-chain transactions is far bigger than the current DeFi market size, worth around $200B, Grayscale said DeFi protocols powered by smart contracts are still being undervalued. The current capital markets alone are 500x more than the DeFi market, Grayscale outlined. In addition, NFT-associated transactions and Metaverse-related applications could...Read More
Grayscale – a popular cryptocurrency asset manager – has now launched the Grayscale Smart Contract Platform Ex-Ethereum Fund. The fund includes exposure to a variety of cryptocurrencies that power major smart contract networks besides Ethereum. Investing in Smart Contracts As announced by Grayscale in a press release on Tuesday, the fund marks the firm’s 18th...Read More
Grayscale – the world’s largest Bitcoin fund – has long had its attempts to become a spot-based Bitcoin ETF denied by the Securities and Exchange Commission (SEC). Investors are now speaking out against this, and have sent roughly 200 letters to the commission in support of the fund’s transition. Grayscale Investors Speak Out As reported...Read More
The world’s largest digital asset manager, Grayscale Investments, announced today the launch of its first ETF. Dubbed Grayscale Future of Finance ETF, it will be the first equity ETF to track the performance of the Bloomberg Grayscale Future of Finance Index. The statement dated February 2nd informed that the new product’s ticker will be GFOF....Read More
Digital currency investment and cryptocurrency asset management firm Grayscale continues to chase its expanded exchange-traded fund (ETF) plans with the launch of a new crypto-related index offered in collaboration with Bloomberg. Future of Finance Index By Grayscale and Bloomberg According to a press release issued on Wednesday, January 19, 2022, Bloomberg and Grayscale have announced...Read More
The world’s leading digital asset manager – Grayscale Investments – has readjusted its DeFi Fund. The firm rebalanced the financial product’s weightings with AMP (the native token of the Flexa payment Network), while Bancor Network Token (BNT) and Universal Market Access Protocol (UMA) were removed. Adjusting The DeFi Fund According to a recent series of...Read More
The United States Securities and Exchange Commission (SEC) has postponed its decision regarding the Bitwise Bitcoin ETP Trust and Grayscale Bitcoin Trust applications. SEC Extends Approval Date to Feb 2021 The regulatory body has issued two new extension dates for both applications to determine whether to approve, reject, or “institute proceedings to determine whether to...Read More
According to a study conducted by Grayscale Investments – the world’s largest digital asset manager – 26% of the American investors already own bitcoin. 55% of the HODLers entered the crypto market in the last 12 months. Every Fourth American Has BTC Despite bitcoin’s current price decline, the primary cryptocurrency has had a highly successful...Read More
Digital Currency Group (DCG) is moving to Connecticut, and with this relocation, the company aims to generate over 300 jobs over the next five years. Barry Silbert cited the proximity to major metropolitan areas, infrastructure, talent, business-friendly environment, and facilities as the reasons behind the move. Cryptocurrency behemoth Digital Currency Group (DCG) announced relocating to...Read More
Grayscale Investments, the digital asset manager with over $50B in AUM, announced the launch of its 16th investment vehicle – the Grayscale Solana Trust. The company’s press release, dated November 30th, explained that the new Trust will “solely and passively” invest in SOL – the native cryptocurrency of the popular blockchain project, Solana. The product...Read More
Metaverse is a whole new paradigm paving the way for yet another exciting investment frontier. Grayscale Investments, the world’s largest digital asset management firm, believes that the industry will be valued at over $1 trillion in the next few years. According to the latest research report by the company titled ‘The Metaverse, Web 3.0 Virtual...Read More
A recent filing with the United States Securities and Exchange Commission (SEC) reveals that the international banking behemoth Morgan Stanley has an increased appetite for BTC, even as the price of the cryptocurrency goes up. According to several filings with the SEC, Morgan Stanley has substantially increased its BTC exposure. The company has done so...Read More
Following yesterday’s price increases and new records, the world’s largest digital asset manager reached an ATH of its own in terms of AUM by topping $60 billion. Interestingly, if the company operated as an exchange-traded fund, it would have been the 19th-largest. If ETF, Grayscale Would Be in Top 20 Launched in 2013, Grayscale is...Read More
The New York-based giant Digital Currency Group sold $700 million worth of shares in a secondary sale in a deal on Monday led by some high-profile participants such as SoftBank, Alphabet Inc’s Capital G, and Ribbit Capital. With this, DCG becomes the latest’ decacorn in the crypto space. The secondary round, which valued the company...Read More
Digital Currency Group, the organization behind the world’s largest cryptocurrency asset manager, has decided to enhance its Bitcoin position by authorizing the acquisition of $1 billion more worth of shares of Grayscale’s Bitcoin Trust. The press release dated October 20th reads that Digital Currency Group has upped its authorization from $750 million to $1 billion....Read More
