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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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On CNBC's 'Halftime Report Final Trades,' analysts highlighted Eagle Materials, Morgan Stanley, iShares U.S. Real Estate ETF, and Axon Enterprise. Eagle Materials plans to modernize and expand its cement plant. Morgan Stanley invested $269.9 million in Bitcoin ETFs. Axon Enterprise posted strong Q1 results and plans to acquire Dedrone.

Portfolio Pulse from Avi Kapoor

May 21, 2024 | 12:35 pm

Bitcoin spot ETFs saw a significant net inflow of $241 million on Monday, driving Bitcoin prices above $70,000. Leading the inflows were Ark Invest and 21Shares’ ETF (ARKB), BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), Bitwise’s Bitcoin ETF (BITB), and Grayscale Bitcoin Trust (GBTC). The inflows reflect growing investor confidence and favorable market conditions.

Portfolio Pulse from Murtuza Merchant

May 21, 2024 | 11:25 am

Grayscale Investments announced that CEO Michael Sonnenshein will step down on Aug. 15, with former Goldman Sachs executive Peter Mintzberg appointed as his successor. Edward McGee will serve as interim principal executive officer until Mintzberg's start date. Mintzberg's extensive background includes roles at Goldman Sachs, BlackRock, OppenheimerFunds, and Invesco. This leadership change occurs as the cryptocurrency industry continues to evolve.

Portfolio Pulse from Murtuza Merchant

May 20, 2024 | 1:41 pm

Grayscale Investments has appointed Peter Mintzberg as the new Chief Executive Officer, effective August 15, 2024. He will succeed Michael Sonnenshein.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 1:01 pm

Spot Bitcoin ETFs saw a net inflow of $948 million last week, marking a positive trend compared to the past eight weeks. Despite this, Bitcoin remains in a correction phase. The SEC is expected to make a decision on Ethereum spot ETF applications this week, which could significantly impact Ethereum's mainstream adoption. Notable inflows were seen in Grayscale Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, and iShares Bitcoin Trust.

Portfolio Pulse from Murtuza Merchant

May 20, 2024 | 11:50 am

Anthony Scaramucci, founder of SkyBridge Capital, predicts more pension funds will invest in Bitcoin, following the State of Wisconsin's recent investment in BlackRock’s iShares Bitcoin Trust and Grayscale’s Bitcoin Trust. Scaramucci believes institutional adoption is underway due to recent regulatory approvals.

Portfolio Pulse from Benzinga Neuro

May 18, 2024 | 8:06 am

BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Trust led a $257 million surge in Bitcoin ETFs, indicating strong institutional interest despite JPMorgan's cautious outlook. Grayscale's Bitcoin Investment Trust also saw inflows, though more modest.

Portfolio Pulse from Murtuza Merchant

May 17, 2024 | 12:00 pm

Morgan Stanley has declared a $269.9 million investment in spot Bitcoin ETFs through Grayscale's GBTC in Q1, positioning itself as a major institutional investor in the cryptocurrency market. Other significant investments in Bitcoin ETFs were made by prominent banks and advisory firms, indicating a growing trend of institutional interest in digital assets.

Portfolio Pulse from Murtuza Merchant

May 16, 2024 | 3:02 pm

US spot Bitcoin ETFs saw significant net inflows of $303 million on May 15, led by Fidelity's ETF with $131 million. Bitwise and Grayscale followed with $86.26 million and $27.05 million, respectively. Analysts predict a potential return to Bitcoin's all-time highs, driven by lower-than-expected US inflation data and growing institutional interest.

Portfolio Pulse from Murtuza Merchant

May 16, 2024 | 12:04 pm

Spot Bitcoin ETFs saw $100 million in inflows on May 14, despite a $50.93 million outflow from Grayscale's Bitcoin Investment Trust. Significant inflows were noted in Ark Invest and 21Shares' ETF, and the Wisconsin Investment Commission's $99 million investment in BlackRock's iShares Bitcoin Trust highlights growing institutional interest.

Portfolio Pulse from Murtuza Merchant

May 15, 2024 | 11:43 am

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