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GBTC

Grayscale Bitcoin Trust ETF (BTC)

https://grayscale.co/bitcoin-investment-trust/#overview

Industry

Asset Management - Cryptocurrency

The trust's Bitcoins are carried, for financial statement purposes, at fair value as required by U.S. generally accepted accounting principles ("GAAP"). The trust determines the fair value of Bitcoins based on the price provided by the Digital Asset Market that the trust considers its principal market as of 4:00 p.m., New York time, on the valuation date.

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Spot Bitcoin ETFs experienced $11M in net inflows on May 8, led by the Bitwise ETF (BITB) with Grayscale shifting focus towards a Spot Ether ETF. Other notable ETFs like GBTC, IBIT, FBTC, and ARKB reported no changes. Grayscale's strategic pivot to enhance its Ethereum trust reflects a broader industry trend favoring spot over futures products.

Portfolio Pulse from Murtuza Merchant

May 09, 2024 | 12:00 pm

Susquehanna International Group has invested over $1 billion in Bitcoin ETFs and related assets in Q1 2024, including significant stakes in Grayscale Bitcoin Trust (GBTC), Fidelity Wise Origin Bitcoin Fund (FBTC), ProShares Bitcoin Strategy ETF (BITO), and MicroStrategy (MSTR). Despite these investments, cryptocurrency-related assets remain a small part of Susquehanna's vast portfolio.

Portfolio Pulse from Murtuza Merchant

May 08, 2024 | 2:56 pm

Bitcoin spot ETFs experienced a net outflow of $15.6439 million on May 7, with the Grayscale Bitcoin Trust (GBTC) seeing a significant outflow of $28.613 million. Despite these outflows, the total NAV of Bitcoin spot ETFs remains high at $52.210 billion. The wider digital asset market also saw net outflows, totaling $251 million for the fourth consecutive week. This trend is particularly concerning for newly issued U.S. ETFs, which saw their first significant outflows since inception. Outflows were mainly concentrated in the U.S., but Canada, Switzerland, and Germany also experienced outflows. In contrast, Hong Kong's digital asset market saw significant inflows, especially in newly launched Bitcoin and Ethereum ETFs.

Portfolio Pulse from Murtuza Merchant

May 08, 2024 | 12:00 pm

$130B asset manager Hightower Advisors has invested $68M in spot Bitcoin ETFs, including Grayscale, Fidelity, BlackRock, ARK, Bitwise, and Franklin Templeton Bitcoin ETFs. This move highlights growing institutional interest in Bitcoin and its acceptance in mainstream financial markets following the SEC's approval of Spot Bitcoin ETFs in January 2024.

Portfolio Pulse from Murtuza Merchant

May 07, 2024 | 12:51 pm

Bitcoin spot ETFs experienced significant net inflows of $217 million on May 6, with notable contributions from Grayscale's GBTC, Fidelity's FBTC, and the Ark Invest-21Shares joint ETF ARKB. This investor interest persists despite the SEC's delays in approving Ethereum spot ETFs, reflecting growing trust in Bitcoin as a digital asset. The U.S. dominates the cryptocurrency ETF market, significantly outpacing Hong Kong in trading volumes.

Portfolio Pulse from Murtuza Merchant

May 07, 2024 | 11:01 am

Bitcoin spot ETFs in the U.S. saw a significant rebound with $378M in inflows on May 3rd, marking a shift from recent outflows. The Grayscale Bitcoin Trust (GBTC), Fidelity Bitcoin Trust (FBTC), BlackRock's iShares Bitcoin Trust (IBIT), Bitwise's Bitcoin ETF (BITB), and Ark's ETF (ARKB) all experienced notable inflows. This resurgence in investment coincides with a recovery in the crypto market and broader economic signals suggesting easing inflation, potentially influencing Federal Reserve policies.

Portfolio Pulse from Murtuza Merchant

May 06, 2024 | 11:40 am

Spot Bitcoin ETFs experienced a net outflow of $34.36 million on Thursday, with Grayscale's GBTC seeing a $55 million outflow, while ARK 21Shares Bitcoin ETF (ARKB) saw inflows of $13 million. BlackRock's iShares Bitcoin Trust (IBIT) and the Fidelity Bitcoin ETF (FBTC) recorded no new outflows. This trend reflects investor caution and a search for diversification within the digital asset landscape.

Portfolio Pulse from Murtuza Merchant

May 03, 2024 | 11:59 am

BNP Paribas has invested in BlackRock's iShares Bitcoin Trust (IBIT) by purchasing 1,030 shares at $40.47 each, marking a significant shift in the bank's stance towards cryptocurrencies. This move into a spot Bitcoin ETF, a first by a major financial institution, signals growing institutional interest in Bitcoin ETFs despite previous skepticism. The investment comes amid a backdrop of substantial activity in Bitcoin ETFs, with notable inflows and outflows influenced by broader market trends and interest rate decisions by the U.S. Federal Reserve.

Portfolio Pulse from Murtuza Merchant

May 02, 2024 | 4:38 pm

Bitcoin spot ETFs experienced a record $564M outflow in a single day, with Grayscale, BlackRock, Fidelity, and Ark's ETFs notably impacted. The outflows are attributed to high interest rates, geopolitical impacts, and market highs. Robert Quartly-Janeiro suggests this reflects a market dip and a reassessment of investment utility rather than an existential crisis for cryptocurrencies.

Portfolio Pulse from Murtuza Merchant

May 02, 2024 | 11:30 am

Bitcoin spot ETFs experienced significant outflows, with $162 million leaving on Tuesday. Grayscale Bitcoin Trust (GBTC) saw the largest withdrawal of $93.2277 million. Fidelity's FBTC and Bitwise's BITB also experienced substantial outflows, while Ark's ARKB was the only one with an inflow. This trend contrasts with the optimism seen in Hong Kong, where new cryptocurrency spot ETFs have been launched with significant interest, despite lower first-day trading volumes compared to the U.S.

Portfolio Pulse from Murtuza Merchant

May 01, 2024 | 2:33 pm

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