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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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Grayscale appoints Peter Mintzberg, a Wall Street veteran, as its new CEO to navigate growth and regulatory challenges. This move comes after converting its Bitcoin trust into an ETF and facing competition from BlackRock and Fidelity.

Portfolio Pulse from Murtuza Merchant

August 21, 2024 | 12:02 pm

Bitcoin and Ethereum ETFs show mixed flows with Bitcoin ETFs seeing significant inflows, while Ethereum ETFs experience outflows. Despite this, both cryptocurrencies are down. Tron stands out with a 12.5% gain due to developments in its ecosystem. Solana's ETF prospects in the US remain uncertain.

Portfolio Pulse from Murtuza Merchant

August 21, 2024 | 11:27 am

One month after the launch of Ethereum ETFs, institutional investors are cautiously increasing their exposure to Ethereum, although Bitcoin ETFs still dominate with significantly higher assets under management. The Grayscale Ethereum Trust leads Ethereum ETFs, while the iShares Bitcoin Trust leads Bitcoin ETFs. Despite market volatility, Bitcoin remains the preferred choice for institutional investors.

Portfolio Pulse from Murtuza Merchant

August 20, 2024 | 12:57 pm

The cryptocurrency market is experiencing volatility with Bitcoin and Ethereum prices down. Despite this, Bitcoin saw significant inflows, while Ethereum had modest inflows. Grayscale experienced outflows, indicating a shift in investor trust. Solana faced record outflows due to declining meme coin trading volumes.

Portfolio Pulse from Murtuza Merchant

August 19, 2024 | 12:35 pm

Bitcoin spot ETFs saw modest inflows of $11.1 million on Aug. 15, while Grayscale Bitcoin Trust experienced $25 million in outflows. Fidelity's Bitcoin ETF attracted $16.2 million, and Grayscale's mini Bitcoin ETF saw $13.6 million in inflows. Ethereum spot ETFs faced net outflows of $39.2 million, with Grayscale Ethereum Trust seeing $42.5 million in outflows. Negative funding rates in Bitcoin futures signal bearish sentiment.

Portfolio Pulse from Murtuza Merchant

August 16, 2024 | 12:18 pm

Bitcoin's price could be around $20,000 without the support of ETFs, according to Eric Balchunas, Senior ETF Analyst at Bloomberg. ETFs from BlackRock and Grayscale have played a critical role in stabilizing Bitcoin's price. Grayscale’s Bitcoin Trust led outflows with $56.8658 million, while BlackRock ETF saw inflows of $2.6836 million. Ethereum spot ETFs experienced a net inflow of $10.7736 million.

Portfolio Pulse from Murtuza Merchant

August 15, 2024 | 1:42 pm

Goldman Sachs has revealed significant investments in Bitcoin ETFs, despite previously downplaying cryptocurrencies. The bank's largest holding is in the iShares Bitcoin Trust (IBIT) valued at $238.6 million, with other substantial investments in Fidelity's Bitcoin ETF (FBTC), Invesco Galaxy's BTC ETF (BTCO), and Grayscale's Bitcoin Trust (GBTC).

Portfolio Pulse from Murtuza Merchant

August 14, 2024 | 12:04 pm

Bitcoin's price nearing $58,000 has led to a significant decrease in Bitcoin ETFs. iShares Bitcoin Trust ETF (IBIT) fell by 3.53%, Grayscale Bitcoin Trust (GBTC) by 3.51%, Fidelity Wise Origin Bitcoin Fund (FBTC) by 3.18%, and Bitwise Bitcoin ETF (BITB) by 3.39%. The downturn follows a market selloff over the weekend, with BTC trading at $58,704.30.

Portfolio Pulse from Benzinga Neuro

August 12, 2024 | 10:59 am

Bitcoin is nearing $60,000 as Bitcoin ETFs bought the dip on Wednesday. Grayscale's ETF saw outflows, while BlackRock and WisdomTree's ETFs saw inflows. Ethereum-based funds experienced net outflows, with Grayscale's ETF seeing significant outflows and Fidelity's ETF seeing inflows. The total net asset value of Bitcoin spot ETFs dipped below $50 billion. Despite Ethereum's underperformance, QCP Capital remains bullish on Bitcoin, noting significant call buying activity.

Portfolio Pulse from Murtuza Merchant

August 08, 2024 | 4:58 pm

Grayscale Investments has launched two new cryptocurrency-based funds, Grayscale Bittensor Trust and Grayscale Sui Trust, which will track the market prices of Bittensor (TAO) and Sui (SUI). These funds are open to eligible individual and institutional accredited investors. Grayscale is known for its Bitcoin and Ethereum funds, which were recently transitioned to ETFs.

Portfolio Pulse from Aniket Verma

August 08, 2024 | 9:27 am

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