In light of Tesla’s $1.5 billion purchase of Bitcoin, market bullishness is at a fever pitch. In fact, right now, many anticipate that corporate treasurers worldwide will follow Tesla’s lead and take a closer look at an allocation towards cryptocurrencies. Tesla is the fifth-largest company in the S&P 500, which is the reason why many...Read More
With Ethereum trading at a new all-time high, and PayPal enabling crypto payments for its 26 million merchants worldwide, this year has already been marked by significant events to signal crypto adoption. Bobby Ong, Co-founder of crypto data aggregator CoinGecko, recently shared his predictions for 2021. According to him, this will be the year that...Read More
Ethereum [ETH], the second-largest cryptocurrency by market cap, hit a new all-time high earlier today, with the crypto valued at $1,571, at the time of writing. That wasn’t the only notable development in the crypto’s ecosystem, however, since amidst the rising demand for the digital asset, Grayscale revealed that it had added $38 million worth...Read More
Indecisiveness is the current market sentiment for Bitcoin. While some metrics indicate that a 2nd bullish rally might be incoming, other factors are suggestive of further corrections. With Bitcoin continuing to consolidate in the mid-$30k range, the reset of certain metrics and accumulation activity might project a potential change in the crypto’s price. Grayscale is...Read More
Most discussions on the subject of Bitcoin’s institutional involvement always hint at the common objective of these institutions. These organizations are clubbed together under one idea, that they believe in the assets, and they want to attain exposure into crypto through Bitcoin. It is not a false narrative, but over the past few months, most...Read More
Grayscale has been at the head of a lot of Bitcoin-related developments over the past few months. It is in the news again today after its GBTC premium turned negative for the first time after its launch in 2013. The aforementioned premium represents an “overpayment” on behalf of mostly institutional buyers that seek Bitcoin exposure,...Read More
The Grayscale Ethereum Trust, which offers its institutional and accredited investors to take advantage of private placements on several occasions throughout the year, has reopened the initiative of its shares. Grayscale announced resuming the Ethereum Trust private placement earlier, thus enabling accredited investors to allocate funds into the company’s product following the second-largest cryptocurrency. Private...Read More
With nearly 90% of investments located in its Bitcoin Trust, Grayscale could be providing new diversification products to its institutional investors. Recent filings in Delaware revealed that the company has registered for new cryptocurrency products for the privacy-oriented coin Monero and three DeFi tokens – Polkadot, Cosmos, and Aave. According to the filings made by...Read More
Digital asset management outfit Arca has secured $10 million in Series A funding as the company sets out to bootstrap its expansion in the emerging fintech scene. Crypto asset management firms are also seeing increasing inflows as investor appetite for digital assets continue to grow. RRE Ventures Leads $10M Arca Funding Round Arca announced the...Read More
Global regulators have always branded cryptocurrencies, especially bitcoin, as a tool for illicit activities such as money laundering and crime financing. Even the newly-confirmed US Treasury Secretary Janet Yellen recently raised concerns over the same issue. Experts like ECB President Christine Lagarde and Shark Tank’s Kevin O’Leary have also called for a unified global regulatory...Read More
The Chicago-based company has increased its position to GBTC by about 24% from October to late December, according to a recent filing with the US Securities and Exchange Commission. The financial institution now owns 30,454 GBTC shares. Founded in 1908 in Chicago, Rothschild Investment Corporation is a registered financial brokerage, dealer, and a member of...Read More
The leading cryptocurrency asset manager, Grayscale Investments, has donated $1 million to the non-profit think tank focused on public privacy in the crypto ecosystem – Coin Center. Additionally, Grayscale has vowed to match every other donation up to $1 million through February 2021. Grayscale Donates $1M To Coin Center Based in Washington, DC, Coin Center...Read More
Bitcoin’s range-bound price rally has left many traders waiting for another dip. There have been a few swift recoveries in the current market cycle and institutions have supported the rebound in price, however, the question remains – for how long? When will it be time to book profits on the assets accumulated in the past...Read More
Grayscale Investments have one of the largest total-assets under management in the cryptocurrency industry. With the likes of Bitcoin, Ethereum, and other major assets under their belt, their net AUM on 13th January was reportedly worth close to $25 billion. With GBTC or Grayscale Bitcoin Trust being the most popular among other products, Grayscale’s Ethereum...Read More
The leading digital asset manager Grayscale continues to tighten its grip on the bitcoin supply. According to recent estimations, the company now owns over 3% of all the 21 million BTC that will ever exist. Grayscale’s BTC Domination Launched in 2013, Grayscale is the largest cryptocurrency asset manager with over $27 billion in assets under...Read More
Bitcoin has to endure and overcome the $40,000 boundary in order to avoid a consequent major price correction. JPMorgan strategists say that otherwise, the major cryptocurrency might suffer investment outflow. The $40K Is the Key to Future Prospects for BTC According to a JPMorgan Chase & Co report, cited by Bloomberg, this level is an...Read More
Bitcoin’s price was stumbling to lower levels after it hit an all-time high of $42k. The largest digital asset managed to retrace its steps to $38k recently, before witnessing another fall. However, this time around, this drop in price was an opportunity for the institutions to bag even more BTC. Grayscale has been one such...Read More
This has resulted in the renewal of six-figure price predictions for this market cycle, with some suggesting a top of $300,000 this time around. At the time of writing, Bitcoin was trading at $37,900 after reaching an intraday high of $40,000 according to Tradingview.com. The asset had started to fall back during the Asian trading...Read More
Sequel to its removal of XRP from its diversified public crypto fund, Grayscale Investments has announced the dissolution of its XRP Trust. The move is another fallout from the current enforcement action instituted by the U.S. Securities and Exchange Commission (SEC) against Ripple. Grayscale Terminates XRP Trust Grayscale announced the decision to dissolve its XRP...Read More
The reasoning behind such a claim is that an approved ETF could potentially compete with and cause an outflow from the world’s largest traded cryptocurrency fund, Grayscale’s Bitcoin Trust. It was suggested that the ETF would erode the Grayscale Trust’s effective monopoly, sparking outflows and a slide in its premium to net asset value. This...Read More
There is no denying that institutions and the big players have been the catalyst for this current crypto market cycle and that notion has been reaffirmed by Morgan Stanley’s latest acquisition. According to reports, Morgan Stanley’s investment management arm boosted a stake in Bitcoin vehicle MicroStrategy Inc. to more than 10% late last year. The...Read More
The largest cryptocurrency asset management company, Grayscale, will see a shift in its executive leadership as founder Barry Silbert is prepared to step down to focus on other initiatives of Digital Currency Group. Announced Thursday, Grayscale will see a change in its Chief Executive Officer position. The founder of the company, Barry Silbert, who was...Read More
Grayscale Investments has removed XRP from its diversified public crypto fund — Grayscale Digital Large Cap Fund (DLC). The move could be yet another fallout from the current enforcement action by the U.S. Securities and Exchange Commission (SEC) against Ripple. Grayscale Nixes XRP, Reallocates Liquidated Position According to an announcement, Grayscale revealed that it removed...Read More
Three Arrows Capital, a fund management company registered and supervised by the Monetary Authority of Singapore, disclosed a massive BTC position through the Grayscale Bitcoin Trust. The firm owns over 6% of all GBTC shares, meaning a total amount of almost 37,000 bitcoins. According to a document that Three Arrows Capital filed with the US...Read More
Bitcoin may be a store of value for a few, a hedge against inflation, or digital gold for many. The asset’s institutionalization has made one thing clear, Bitcoin is not for weak hands and it may mean different things to different people. It may be an asset class like commodities, a legitimized medium of exchange,...Read More
The leading digital asset manager, Grayscale, has taken full advantage of the developments within the cryptocurrency field with record-breaking inflows. The company’s assets under management (AUM) have increased ten-fold throughout 2020 to above $20 billion. Grayscale’s Best Year To Date Founded in 2013, Grayscale is among the largest gateways for institutional investors to receive exposure...Read More
Calling Litecoin a surprise performer in the present bull run is odd. The asset has been a major altcoin for years but over the course of 2020, other assets had overshadowed LTC. During several rallies, LTC remained quiet, and the likes of Chainlink, Binance Coin, and even Polkadot overtook on several occasions. The recent bullish...Read More
An actual Bitcoin ETF does not exist in the current financial industry (YET). Over the years, many organizations such as Bitwise have thrown in their hats to launch a BTC ETF but time and time again, SEC has shot it down. Yet, Grayscale Bitcoin Trust is as close to an ETF as it gets. With...Read More
Analysts from the US multinational investment bank JPMorgan Chase & Co have doubled-down on their belief that institutional inflows towards bitcoin are crucial for the asset’s price. They warned that if their purchases decline, the cryptocurrency could head towards a violent correction. JPMorgan Confirms: Institutions Are Key For Bitcoin While most financial assets have suffered...Read More
With Bitcoin trading above $23,000 emerging to become the new normal, institutions and Bitcoin whales are driving price discovery into previously unchartered territories on the price charts. This doesn’t come as a shock to maxis and on-chain analysts, however, with Willy Woo recently quoted as saying, “$100,000, I would rate as very conservative, probably overly...Read More
