Biggest Bitcoin fund in the world could become ETF by July as GBTC nears $40 ...
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),....
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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....
Fidelity Investments has launched a Bitcoin exchange-traded fund that will allow investors to buy and sell real Bitcoins rather than derivatives. It's been a bumpy ride for Bitcoin (BTC) investors. While waiting on the United States Securities and Exchange Commission (SEC) to make their decision about whether or not they will approve a spot Bitcoin exchange-traded fund (ETF), U.S-based investment firm Fidelity Investments is reportedly launching a spot ETF in Canada subject to regulatory approval. According to a tweet shared by Bloomberg senior ETF analyst Erick Balchunas, the fund....
Grayscale Investment’s Bitcoin Trust (GBTC) has dropped to a new low this week as the bitcoin fund tapped a record 35.18% low against bitcoin spot prices. GBTC’s discount to spot has been underwater for a total of 577 consecutive days.
GBTC Discount to NAV Widens by 35% — Fund Reaches an All-Time Low Against BTC Spot Price
The Grayscale Bitcoin Trust (OTCMKTS: GBTC) is the oldest, and one of the most popular, bitcoin (BTC) funds on the market today. However, in recent times GBTC has been suffering from a discount compared to BTC’s spot market values.....
Billionaire hedge fund manager Bill Miller’s flagship fund will soon be able to add bitcoin exposure by investing in Grayscale’s bitcoin trust (GBTC), according to its filing with the U.S. Securities and Exchange Commission (SEC). The fund currently has about $2.25 billion in assets under management. Bill Miller’s $2.25M Hedge Fund to Invest in GBTC The Miller Opportunity Trust, a hedge fund in the Miller Value Funds family, has filed an amendment to its registration statement with the U.S. SEC to be able to gain exposure to bitcoin. Billionaire investor Bill Miller....
Bitcoin prices remain under pressure in the $30,000-$40,000 zone as traders brace for the 16,000 BTC worth of GBTC shares unlocking in July. Whether a potential sell-off of shares tied to a multi-billion dollar Bitcoin (BTC) investment fund could crash the cryptocurrency's spot prices has turned into a hotly debated topic among the analysts in the space.Grayscale's premium remains negative for months The argument concerns Grayscale Bitcoin Trust, the world's largest digital assets manager that allows institutional investors to gain indirect exposure in the Bitcoin market through its....