Grayscale Bitcoin Trust Hits Record Low Against NAV

Grayscale Bitcoin Trust Hits Record Low Against NAV

Why has the Grayscale Bitcoin Trust hit a record low against net asset value?Shares of the Grayscale Bitcoin Trust (GBTC) hit a new record low against net asset value (NAV) this week, touching as low as negative 14.31 percent as bitcoin continues to face downward pressure, with the asset down 8.02 percent on Thursday.The world's largest bitcoin fund in terms of assets under management, with 654,850 bitcoin, worth $33.3 billion at the time of writing, first started trading at a negative premium to NAV in late February in a surprising development to investors. While there are assuredly many....


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Grayscale Bitcoin Trust Discount Hits Record Low

Shares of the Grayscale Bitcoin Trust (GBTC) hit record lows against net asset value.

Grayscale Investments Terminates XRP Trust Citing Impact of SEC Lawsuit Again...

Grayscale Investments is shutting down its Grayscale XRP Trust and liquidating its XRP holdings in order to distribute cash proceeds to the trust’s shareholders. The firm cited difficulty in converting XRP into U.S. dollars following the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple. Grayscale Axes XRP Trust Grayscale Investments announced Wednesday that it is commencing the “dissolution of Grayscale XRP Trust.” The company detailed that on Dec. 22, the U.S. Securities and Exchange Commission (SEC) decided “to file a federal court....

Institutions rushing into $19K Bitcoin as GBTC premium hits 6-month high

Grayscale Bitcoin Trust's premium is now above 30% as institutional demand for BTC continues to increase. The demand for the Grayscale Bitcoin Trust (GBTC) continues to rise with its premium surpassing 30% on Dec. 3. This indicates that Bitcoin (BTC) is seeing increasing institutional demand as its price consolidates above $19,000.The Grayscale Bitcoin Trust is an institutional vehicle that is tradable in the United States through OTC markets. Accredited and institutional investors typically use the trust to obtain exposure to BTC with their brokerage accounts.Why is the Grayscale Bitcoin....

Grayscale Bitcoin Trust Holdings Are Spread Over 1,750 Wallet Addresses, Arkh...

Crypto analytics platform Arkham Intelligence claims to have found on-chain addresses associated with the Grayscale Bitcoin Trust. This revelation comes amidst the ongoing battle between asset management firm Grayscale and the United States Securities and Exchange Commission (SEC) over converting the Bitcoin Trust into a spot exchange-traded fund (ETF). The Grayscale Bitcoin Trust, with the […]

Grayscale halts GBTC inflow after record 15% discount

Just a few days after GBTC traded at a 15% discount to its BTC equivalent, Grayscale Investments has temporarily closed the trust to investors. Grayscale Investments’ Grayscale Bitcoin Trust (GBTC) has been under the heat for the last couple of weeks as it traded below the Bitcoin equivalent for each share. The instrument trades on over-the-counter markets and is by far the largest listed cryptocurrency asset.Periodically, the private-placement offerings for GBTC shares are temporarily closed, along with similar products offered by Grayscale Investment such as its Ethereum trust. As of....