Sunday's GBTC unlock held more shares than the remaining events combined
Even if unlocking events were able to directly spark Bitcoin sell-offs, the worst is easily over, data shows. Bitcoin (BTC) is rebounding despite the ongoing Grayscale Bitcoin Trust (GBTC) unlocking events — and most shares are already released.According to data from tracking resource Bybt, the remaining unlockings combined involve fewer shares than those which were released on just one day last weekend.Putting an end to GBTC "FUD"July 18 saw around 16,240 BTC worth of GBTC shares end their six-month lock-up period. The largest such release in a single day, the event saw a hefty build-up,....
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Contrary to JPMorgan’s analyst, the major GBTC unlock on July 18 might not put any downside risk on BTC’s spot price. As Bitcoin (BTC) struggles around the $32,700 mark after the July 8 price drop, another major event looms over the flagship cryptocurrency in July, the Grayscale Bitcoin Trust (GBTC) unlock.A total of nearly 40,000 BTC will be unlocked in July, amounting to nearly $1.5 billion in notional value. The biggest of these unlocks will be on July 18 when 16,240 BTC will be available due to the release of the six-month lock-in period for GBTC shares. The tranche of shares consists....
New research questions the gravity of the upcoming unlocking events at the Grayscale Bitcoin Trust, pointing to bigger potential price threats later in 2021. Bitcoin (BTC) will not move much after Grayscale's giant 16,000 BTC unlocking date after all, says crypto trading firm QCP Capital. In its latest market update released on July 8, analysts downplayed the popular theory that GBTC will cause BTC price volatility in the coming weeks.No "significant impact" expected from GBTCAs Cointelegraph reported, the Grayscale Bitcoin Trust (GBTC) is due to release, or "unlock," a large amount of BTC....
Investors are increasing the pressure to acquire shares of the Bitcoin Investment Trust (GBTC) with a bid for 50,000 at $35 per share by the Maxim Group. Self-described as a full-service investment bank and wealth management firm, Maxim has taken the most aggressive approach as of yet to get investors in GBTC to sell their shares. In the beginning of April, trading began for shares of the Bitcoin Investment Trust, one of the products rolled out by Barry Silbert's new Grayscale Investments. Despite the fact that trading was possible, none have been executed. The rules put forth by the....
GBTC is the listed stock for the Bitcoin Investment Trust (BIT) that many people in and outside the bitcoin sector have been eagerly waiting for. The other day it was brought to the attention of r/bitcoin that bids for GBTC shares are starting to get a little bit more serious. GBTC shares trade at the value of 1 GBTC share equals approximately 0.1 bitcoin, with a minimum bid of 100 shares, making the minimum bid possible ten bitcoins. Maxim Group LLC (MAXM), an Investment Banking, Securities and Wealth Management business, had put down a bid for 50,000 GBTC shares at the value of $35 per....
What was once a major bearish narrative exits via the tradesman’s entrance after failing to have any impact on Bitcoin markets. Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) completed its share unlockings this week, ending a major talking point both inside and outside crypto.Data from monitoring resource Bybt confirms that as of Thursday, no more unlockings are scheduled.Bitcoin shrugs off another FUD narrativeUnlocking events at GBTC have continued throughout 2021 and, at one point, formed the focal point for bearish BTC price predictions.With the equivalent of tens....