Grayscale Adds $283.3 Million Of Bitcoin To GBTC, Despite Its 13% Trading Dis...
The Grayscale Bitcoin Investment Trust continues to trade at a significant discount compared to the bitcoin held within.Correction, April 22, 2021: This article originally stated that Grayscale had added $283.3 million in bitcoin to the Grayscale Bitcoin Investment Trust. It has been corrected to reflect that Grayscale added $283.3 million in assets under management.Grayscale has added $283.3 million in assets under management (AUM) to its premier Grayscale Bitcoin Investment Trust (GBTC) product, despite the fact that the product continues to trade at a significant discount compared to....
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The new allocation extends DCG’s purchase authorization for the Grayscale Bitcoin Trust by $250 million. According to an announcement issued on Wednesday, DCG is now authorized to buy up to $1 billion worth of Grayscale Bitcoin Trust (GBTC).This development extends DCG’s prior authorization by $250 million if they choose to do so. Indeed, DCG has so far purchased $338 million in GBTC, according to the company’s announcement on Wednesday.As previously reported by Cointelegraph, DCG had purchased $193.5 million worth of GBTC shares back in May 2021. At the time, the firm’s GBTC purchase....
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....
Grayscale Investments has confirmed its plan to file for its bitcoin trust (GBTC) to be converted into a bitcoin exchange-traded fund (ETF). “The NYSE Arca will file a document called the 19b-4 to convert GBTC into an ETF,” said Grayscale’s official.
GBTC to Become Bitcoin ETF
Grayscale Investments has confirmed that it will convert its flagship product, Grayscale Bitcoin Trust (GBTC), into a bitcoin exchange-traded fund (ETF). Jennifer Rosenthal, Grayscale’s communications director, tweeted Monday:
Today, I’m happy to confirm that....
It's a polarizing world in institutional Bitcoin offerings this week as Grayscale's CEO remains convinced demand will return. Bitcoin (BTC) descending to $24,000 has cost its largest institutional investment vehicle more than the average hodler.According to data from on-chain monitoring resource Coinglass on May 13, the Grayscale Bitcoin Trust (GBTC) is now trading at a nearly 31% discount.Grayscale CEO: Investors are "waiting for things to settle down"Amid ongoing market volatility this week, GBTC has seen its fledgling recovery fall flat on its face — for the time being.The so-called....
Guggenheim’s billion-dollar Marco Opportunities Fund (MOF) may seek indirect exposure to BTC through the investment of 10% of its net asset value into Grayscale’s BTC Trust (GBTC). The investment (when complete) means MOF will have committed as much as $497 million into the GBTC. In a November 27 amended prospectus filing with the U.S. SEC, Guggenheim explains the rationale for seeking indirect exposure to BTC. According to the explanation, Guggenheim’s MOF wants to achieve its investment objective by “investing in a wide range of fixed-income and other debt and....