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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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Bitcoin spot ETFs saw net inflows for the fourth consecutive day, while Ethereum ETFs experienced continued outflows. BlackRock's Bitcoin ETF led with $206 million in new investments, whereas Grayscale's Bitcoin ETF saw outflows of $54.2931 million. Ethereum ETFs faced a net outflow of $98.2856 million, with Grayscale's Ethereum ETF losing $210 million. However, BlackRock's and Fidelity's Ethereum ETFs attracted inflows.

Portfolio Pulse from Murtuza Merchant

July 30, 2024 | 11:31 am

Bitcoin surged to $69,670, nearing $70,000, driven by former President Trump's declaration to make it a national strategic asset if re-elected. The broader crypto market also saw gains, with Ethereum, Solana, and others rising. Bitcoin spot ETFs saw substantial inflows, particularly BlackRock's ETF, while Grayscale's experienced outflows. Ethereum ETFs had mixed results.

Portfolio Pulse from Murtuza Merchant

July 29, 2024 | 12:29 pm

Bitcoin has rebounded to $67,000, driven by Bitcoin ETFs gaining traction, while Ethereum ETFs face headwinds with significant outflows. Grayscale Ethereum Trust (ETHE) saw a net outflow of $346 million, while BlackRock's Ethereum ETF (ETHA) attracted $70.9289 million. Bitcoin spot ETFs recorded a net inflow of $31.1571 million, with BlackRock's Bitcoin ETF (IBIT) seeing substantial inflows.

Portfolio Pulse from Murtuza Merchant

July 26, 2024 | 12:01 pm

An Ethereum banner was raised outside the NYSE, symbolizing the cryptocurrency's growing importance on Wall Street. The Bitwise Ethereum ETF (NYSE:ETHW) was prominently displayed, marking a significant moment in the crypto industry. The approval of spot Ethereum ETFs has led to high trading volumes and significant inflows.

Portfolio Pulse from Aniket Verma

July 26, 2024 | 6:50 am

Jersey City Mayor Steven Fulop announced that the city's pension fund will allocate a portion to Bitcoin spot ETFs, following Wisconsin's lead. The specific ETFs and allocation percentage were not disclosed. Wisconsin's pension fund previously invested in BlackRock's iShares Bitcoin Trust (IBIT) and Grayscale's Bitcoin Trust (GBTC).

Portfolio Pulse from Aniket Verma

July 26, 2024 | 5:42 am

Ethereum's price has dropped by 9% despite the launch of Ethereum ETFs, sparking debate among traders. Crypto analyst Michaël van de Poppe attributes the stagnant price to substantial outflows from the Grayscale Ethereum Trust (ETHE). He predicts a significant rally in Ethereum's price, suggesting the ecosystem is undervalued. Data shows increased large transaction volume and active addresses, but decreased exchange netflows.

Portfolio Pulse from Khyathi Dalal

July 25, 2024 | 2:16 pm

Bitcoin and Ethereum experienced significant price drops, with Bitcoin falling over 3% and Ethereum plunging below $3,200. The decline was linked to a broader market downturn affecting U.S. technology stocks. Ethereum ETFs saw substantial outflows, while Bitcoin ETFs recorded mixed inflows and outflows.

Portfolio Pulse from Murtuza Merchant

July 25, 2024 | 11:54 am

The launch of Ethereum ETFs in the U.S. saw a strong start with $107 million in net inflows on the first day. BlackRock's iShares Ethereum Trust (ETHA) led with $266.55 million, followed by Bitwise Ethereum (ETHW) and Fidelity Ethereum Fund (FETH). Bitcoin ETFs, however, experienced net outflows, with Grayscale (GBTC), Ark & 21Shares (ARKA), and Bitwise (BITB) seeing significant outflows, while BlackRock's Bitcoin ETF (IBIT) had a net inflow.

Portfolio Pulse from Murtuza Merchant

July 24, 2024 | 12:04 pm

Economist Peter Schiff conducted a poll on X, asking Bitcoin HODLers if they would sell their holdings if Bitcoin's value dropped below $15,000. The majority (85.3%) said they would continue to hold. Schiff also questioned the existence of Bitcoin ETFs, noting net outflows of $77.97 million across 11 spot Bitcoin ETFs. The iShares Bitcoin Trust (NASDAQ:IBIT) saw inflows of $71.94 million, while the Grayscale Bitcoin Trust (NYSE:GBTC) experienced outflows of $27.31 million.

Portfolio Pulse from Aniket Verma

July 24, 2024 | 4:01 am

Crypto trader Evanss6 discusses the launch of Ethereum ETFs, highlighting potential impacts on trading volumes and comparisons to Bitcoin ETFs. Key points include low spot trading volumes on Coinbase, differences in seasonality, and Grayscale’s Ethereum Trust trading at a minimal discount. Predictions for Ethereum ETF inflows vary, with some expecting significant capital inflows and price increases.

Portfolio Pulse from Khyathi Dalal

July 23, 2024 | 1:07 pm

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