GBTC delivered better returns than Bitcoin ETFs last week
Grayscale's flagship Bitcoin fund had no competition from the newly-launched ETF products in their first seven days, figures show. Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) outperformed the newly-launched exchange-traded funds (ETFs) last week, data shows.Figures shared by Grayscale executives among others confirm that GBTC quietly delivered better investor returns since Oct. 19.Grayscale "discount" hits one-month lowsWhile talk continues to revolve around Bitcoin futures ETFs and their market impact, industry stalwart Grayscale is biting back.Amid claims that the....
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Filing to convert GBTC now is "perfect timing," the company's ETF head argues, but concerns remain over the overall strength of the industry. Grayscale could launch its Bitcoin (BTC) exchange-traded fund (ETF) as soon as July 2022, one of its executives has said.Speaking at a virtual event organized by MarketWatch on Oct. 27, Grayscale’s global head of ETFs, David LaValle, gave a nine-month timeline for approval by U.S. regulators.Grayscale: Now's the time to file for ETFGrayscale, which runs the largest-volume Bitcoin investment product globally, the Grayscale Bitcoin Trust (GBTC),....
In a further sign of a shake-up in the institutional market, DCG is eyeing the purchase along with hiring ETF specialists. Cryptocurrency asset manager Grayscale has a new buyer of shares in its Grayscale Bitcoin Trust (GBTC) — its owner.In a press release on March 10, Grayscale parent company Digital Currency Group (DCG) announced plans to purchase up to $250 million of GBTC shares.GBTC to buy "up to $250 million" in sharesThe move, which comes amid volatile conditions for GBTC, follows plans to hire specialists in the exchange-traded fund (ETF) sphere, signaling a potential....
American multinational fund management corporation and the world’s largest money manager Blackrock has announced that a record breaking amount of US$347 billion worth of exchange-traded funds (ETFs) have been traded in 2015. ETFs currently managed by BlackRock, which total nearly US$130 billion, recorded all-time best performances, surpassing the growth of its iShares ETF businesses in 2014. The New York-based organization with over US$1 trillion in management reached a new high record, selling around US$97 billion worth of ETFs, recording a 15.46% increase since 2014. Mimicking the....
The increasing GBTC price comes on the heels of another bullish Bitcoin trend. The Bitcoin Investment Trust is benefiting from the recent BTC price surge. Now that the publicly traded offering surpassed the US$200m market cap, things are looking very promising for GBTC. This news seems to indicate mainstream traders are flocking to GBTC over the past week. Publicly traded stocks have seen their fair share of problems during 2016. Traditional stocks have seen a lot of losses and small gains over time, resulting in a barely positive balance. But GBTC has successfully bucked this trend, as....
Funds are flowing back into GBTC, data suggests, as CEO Sonnenshein reiterates plans to turn Grayscale crypto funds into ETFs. The Grayscale Bitcoin Trust (GBTC) is echoing bullish sentiment in Bitcoin (BTC) as its premium over spot price rises to its highest since May.Data from analytics resource Bybt shows that on Tuesday, the so-called Grayscale premium stood at -5.88%. The last time it was closer to zero was on May 25.GBTC premium slips above -6% That was a week after Bitcoin began a major price drawdown, which this week has finally shown signs of abating.GBTC has been the subject of....