Tag: GBTC

Bloomberg’s senior ETF analyst believes BlackRock has an even chance of getting its Bitcoin ETF green-lit, as Grayscale looks more likely to win its case against the Securities and Exchange Commission. Investment management firm BlackRock has a 50% chance of getting its spot Bitcoin Exchange Traded Fund (ETF) approved, according to Bloomberg senior ETF analyst Eric…

Institutional buying interest in GBTC accompanies hopes that BlackRock will secure the first U.S. Bitcoin spot ETF. Bitcoin plans by BlackRock appear to have sparked a rally in the “OG” institutional BTC investment vehicle. Data from monitoring resource CoinGlass shows that on June 17, the Grayscale Bitcoin Trust (GBTC) almost hit new 2023 highs. GBTC “premium” heads below…

Bad news continues to dominate crypto media headlines but Bitcoin and the wider market appear to not care. Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand from bearish traders at the…

The crypto market is down today after the U.S. government cracks down on Bitzlato and stocks begin to give back some of their gains from the start of the year. The crypto market is down today, as a slew of negative news events weigh on Bitcoin, Ether and altcoin prices. After jumping to yearly highs,…

Shares of Grayscale Bitcoin Trust (GBTC), the world’s largest bitcoin fund, reached a record-high discount rate of above 47% relative to the price of Bitcoin (BTC). Bearish sentiment surrounding the trust deepened over fears that crypto trading firm Genesis Global Trading, with the same owner, could file for bankruptcy. GBTC is a way for investors…

Morgan Stanley continues to increase its exposure to Bitcoin and has bought a considerable amount of GBTC shares for totals of about $303 million. However, the $36 billion trust feels the push from cheaper ETFs. The FT found GBTC trades at a 15% discount on the value of its underlying assets. Banking giant Morgan Stanley…