Bytetree Founder Believes Grayscale Should Lower Its ‘Unrealistically High’ F...
The founder of Bytetree Asset Management, Charlie Morris, has suggested the reduction of the GBTC management fee as one way Grayscale Investment can ease the current selling pressure and possibly reduce the discount on the shares. Morris says if no action is taken, “the selling pressure will build” and “could morph into a systemic risk.” Recent GBTC Buyback Insignificant On the other hand, Morris, who is also the chief investments officer (CIO) at Bytetree, thinks Grayscale’s recent $250 million GBTC may be too insignificant to make a difference. However, in....
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Bitcoin remains strong on lower timeframes but could see some short-lived downside pressure after being rejected at the $45,500 price point. The first crypto by market cap took an upside trajectory last week on the back of several bullish headlines, and an increase in demand. Related Reading | TA: Bitcoin is Surging, Why Bulls Could Aim More Upsides As of press time, Bitcoin trades at $43,816 with a 1.2% and 13.5% profit in the last 24 hours and 7 days, respectively. Data from ByteTree suggest Bitcoin’s latest price action is “encouraging”, but BTC’s price needs to go above the....
Launched in cooperation with ByteTree, the new BOLD ETP by 21Shares comprises 18.5% of BTC and 81.5% of gold at launch. 21Shares, a major issuer of cryptocurrency exchange-traded products (ETP), is launching a new ETP tracking a mix of Bitcoin (BTC) and gold.The Switzerland-based firm on Wednesday announced the launch of the 21Shares ByteTree BOLD ETP (BOLD), a new product aiming to provide inflation protection by tracking an index providing risk-adjusted exposure to both BTC and gold.Listed on the SIX Swiss Exchange, the new hybrid ETP is subject to monthly rebalances according to the....
On-chain data shows two dramatic declines in the Bitcoin reserves held by a Canadian Bitcoin fund but there's a catch. A Canada-based Bitcoin fund, operated by 3iQ Corp, has witnessed a dramatic decline in its BTC reserves since June.Literally named the Bitcoin Fund (QBTC:CN), the closed-end investment product, was holding around 24,000 BTC in its vaults in early June. However, as the monthly session progressed, the reserves first dropped to below 16,000 BTC in a dramatic, straight-line decline. Later, another massive withdrawal pushed the Bitcoin Fund's BTC reserves to around 13,000 BTC,....
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....
According to a press release, Grayscale Investments has added 5 new products to its Trusts offer. Expanding it to 14, Grayscale will have a Basic Attention Token, Chainlink, Decentraland, Filecoin, and Livepeer Trust. Grayscale is one of the most important crypto investment firm. Eligible investors can now subscribe to the new trusts, they will operate […]