The shift in momentum regarding institutional Bitcoin outflows may have already taken place. New information from several sources, including the UK-based investment business Farside, indicates that on March 22, the Grayscale Bitcoin Trust (GBTC) witnessed outflow of a mere $170 million. There has been a net decrease in assets under
Crypto asset manager Grayscale’s chief executive officer Michael Sonnenshein has announced a fee reduction plan for the company’s flagship Bitcoin exchange-traded fund, the Grayscale Bitcoin Trust (GBTC). In a U-turn from defending its increased charges, Sonnenshein said that costs would decrease after GBTC outflows exceed $12 billion. According to Grayscale
Even if many think there’s space for further outflow, crypto asset manager Grayscale has seen a decrease in outflows from its spot Bitcoin ETF. Research from Bianco Research and Farside shows that as of February 16th, the total amount of money that has been pulled out of the Grayscale Bitcoin
Genesis, a defunct cryptocurrency firm, has been given the go light by a court to sell off its approx. 35 million Grayscale Bitcoin Trust (GBTC) shares. The crypto firm is now approved to sell its around $1.3 billion worth of GBTC after months of litigation were ultimately dismissed by the
According to Bloomberg Intelligence’s analysis, financial asset management company Grayscale Investments’ spot Bitcoin ETF product is experiencing a resurgence of bearish outlook. Evidence suggests that Grayscale’s GBTC outflows have resumed, reaching a new high of $101.6 million. The spot Bitcoin ETF had two consecutive days of outflows below $100 million,
Genesis Global Capital, a defunct cryptocurrency lender, has filed a fresh motion with the United States Bankruptcy Court for the Southern District of New York, requesting permission to liquidate almost $1.4 billion worth of trust assets. Genesis, a division of the Digital Currency Group (DCG), reportedly has $1.4 billion in
The benefits of Grayscale Investment’s bitcoin trust (GBTC) as a long-term investment are widely acknowledged by market professionals and analysts, who are thus optimistic. The price of GBTC could continue to climb as the discount decreases. And the prospect of SEC approval of the ETF conversion grows. As the likelihood
In light of the recent market upsurge caused by speculation about the launch of a spot BTC ETF, ARK Investment led by Cathie Wood sold shares of the Grayscale Bitcoin Trust (GBTC). The ARK Next Generation Internet ETF (ARKW) sold 100,739 GBTC shares on 23 October for $2.5 million. This
Valkyrie Investments, the largest fund in the cryptocurrency industry, stated on December 28 that it had proposed to become the “sponsor and manager” of Grayscale’s Bitcoin (GBTC). Grayscale BTC is one of the biggest Bitcoin investment funds, which is now valued at 643,572 BTC ($10.6 billion). However, Grayscale’s Bitcoin Trust
Bitcoin (BTC) fails in surpassing $50K amidst recent surfacing back. Many factors prevail as major reasons for BTC plunging down. Three major factors altogether play vital for BTC price downfall. After suffering immensely upon the crypto market crash, Bitcoin (BTC) surged back evidently. During this full period till last BTC
