Grayscale

Bitcoin sell pressure may hit zero in July thanks to Grayscale’s giant 16K BTC unlocking

Institutional Bitcoin (BTC) investors are in the spotlight as an upcoming major cashout date sparks talk of fresh price volatility. As noted by popular Twitter commentator loomdart and others this week, attention is focusing on buyers and sellers of the Grayscale Bitcoin Trust (GBTC) as Bitcoin hovers near $40,000. July means BTC price volatility A …

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Bitcoin sell-off likely played a key role in boosting Gold’s appeal

May was a testing time for cryptocurrencies like Bitcoin (BTC). The flagship digital asset was already wobbling after rallying to nearly $65,000 in mid April, owing to profit-taking sentiment among traders. Elon Musk accelerated the sell-off by reversing his company’s plans to accept Bitcoin as payment for Tesla’s electric cars. Later in the month, the …

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GBTC premium stays negative, suggests Bitcoin price sentiment still low?

Bitcoin (BTC) is facing difficulty breaching the $40,000 mark again after briefly crossing it on May 26. The cryptocurrency is currently exchanging hands at around the $36,000 mark, which is a 44% drop from its all-time high of $64,889 on April 14. Among others, a key difference between macroeconomic conditions affecting the cryptocurrency market as …

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Grayscale Fund Touts ETF Conversion as Price Discount Issue Solution

<div class=”featured_image_container”> </div> <strong>Grayscale, one of the largest cryptocurrency fund managers, has declared it is trying to morph the bitcoin trust GBTC into an exchange-traded fund (ETF) to solve its price woes. The exchange rate is now at a 20% price discount compared to its bitcoin holdings, a fact that has many worried about the …

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GBTC discount presents a unique challenge for Grayscale and investors

Since 2013 the Grayscale Bitcoin Trust Fund (GBTC) has offered its investors exposure to Bitcoin (BTC) through a publicly quoted private instrument. However, the trust’s convertibility and liquidity vastly differ from an Exchange Traded Fund (ETF). Trusts are structured as companies, at least in regulatory form, and are ‘closed-end funds’ which can initially only be …

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Grayscale parent firm DCG to expand GBTC buy limit by $500M

Digital Currency Group, the parent company of Grayscale Investments digital asset manager, is now authorized to purchase up to $750 million worth of shares of Grayscale Bitcoin Trust (GBTC). The company announced Monday that DCG increased its prior authorization to buy up to $250 million worth of GBTC shares by extra $500 million. The share …

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Another Hedge Fund Gets Crypto Exposure via Grayscale’s GBTC

<div class=”featured_image_container”> </div> <strong>Millennium, the U.S.-based alternative investment management firm, has become the latest hedge fund to get exposed to cryptocurrencies via Grayscale Investments’ bitcoin trust. However, the extent of Millennium’s exposure to the crypto asset has not been disclosed as both Millennium and Grayscale executives have refused to comment.</strong> Nevertheless, a report by The …

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Oracle Token Chainlink Replaces XRP in Grayscale’s Strategic Large Cap Fund

<div class=”featured_image_container”> </div> <strong>The digital currency manager Grayscale Investments announced that the firm has updated its Digital Large Cap Fund (GDLC) in order to add the crypto asset chainlink to the fund. Chainlink is the popular blockchain oracle network and the token will replace <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/XRP” target=”_blank” rel=”noopener”>XRP</a> after Grayscale removed the digital currency …

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Bitcoin’s Price Consolidates, Elon Musk Tweet Sends Dogecoin Surfing, Filecoin Surges

<div class=”featured_image_container”> </div> <strong>While bitcoin prices have been consolidating just under the $60k handle, a number of other alternative digital assets have seen steep gains. Two coins, in particular, the decentralized storage network filecoin token and the notorious meme token dogecoin have jumped well over 10% during the last 24 hours.</strong> On Thursday, April 1, …

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NYDIG cuts Bitcoin fee to 0.3% for investors as Morgan Stanley opens floodgates

Bitcoin (BTC) institutional investment firm NYDIG has staged an abrupt price cut for investors using it to gain exposure to BTC price action. In a press release on March 24, the company confirmed that effective immediately, its access fee had been reduced to 0.3%. Bitcoin buyers pick their premium The move comes just days after …

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