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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 have recorded their ninth consecutive day of net inflows, totaling $53.3475 million. BlackRock's ETF led with $110 million in inflows, while Fidelity's ETF saw $2.8259 million. However, Grayscale Bitcoin Trust experienced a net outflow of $53.8612 million. A bullish technical indicator suggests potential upward trends for Bitcoin.

Portfolio Pulse from Murtuza Merchant

July 18, 2024 | 11:39 am

Analysts express skepticism about Grayscale's Ethereum spot ETF due to its high fee structure. Grayscale's flagship Ethereum Trust will charge 2.5%, while the mini trust will charge 0.25%. Comparatively, competitors like BlackRock, Fidelity, and Invesco offer lower fees. Concerns are raised about the potential for significant outflows and the strategy focusing on short-term revenue.

Portfolio Pulse from Aniket Verma

July 18, 2024 | 5:19 am

Grayscale Investments has launched a new Decentralized AI Fund, expanding its portfolio to include investments in the growing field of decentralized artificial intelligence.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 1:32 pm

The article compares two Bitcoin ETFs: Grayscale Bitcoin Trust (GBTC) and iShares Bitcoin Trust (IBIT). Despite GBTC's superior price performance, IBIT has a larger AUM, likely due to its lower expense ratio and BlackRock's strong reputation. Both ETFs track the same Bitcoin index and show similar technical indicators.

Portfolio Pulse from Surbhi Jain

July 05, 2024 | 7:50 pm

Bitcoin has dropped to $60K, influenced by the first net outflow from Bitcoin spot ETFs in nearly a week. Grayscale Bitcoin Trust led the outflow, while BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund saw inflows. The decline also affected other major cryptocurrencies like Ethereum, Solana, and Dogecoin. Market analysts attribute the downturn to the anticipated distribution of Bitcoin from the defunct Mt. Gox exchange. Despite the current bearish sentiment, some analysts remain cautiously optimistic about Bitcoin's future price targets.

Portfolio Pulse from Murtuza Merchant

July 03, 2024 | 11:15 am

Spot Bitcoin and Ethereum ETFs are expected to drive the next phase of the bull cycle. Spot Bitcoin ETFs have seen significant inflows, while Grayscale Bitcoin Trust has experienced outflows. Spot Ethereum ETFs are anticipated to be approved soon, with substantial inflows predicted.

Portfolio Pulse from Khyathi Dalal

July 02, 2024 | 7:58 pm

Bitcoin has rebounded to $63,700, driven by significant ETF inflows, particularly from BlackRock and Ark Invest. Seasonal trends and strong inflows suggest a bullish outlook for July. Ethereum, however, has seen substantial outflows, marking it as the worst-performing asset year-to-date.

Portfolio Pulse from Murtuza Merchant

July 01, 2024 | 12:42 pm

The cryptocurrency market is showing resilience with Bitcoin spot ETFs recording net inflows despite outflows from the Grayscale Bitcoin Trust. Analysts are optimistic about the imminent launch of spot Ethereum ETFs, predicting significant inflows that could drive Ethereum's value higher.

Portfolio Pulse from Murtuza Merchant

June 28, 2024 | 11:52 am

Galaxy Research projects that Ethereum ETFs could attract significant capital, potentially reshaping the Ethereum ecosystem. The report estimates net inflows into ETH ETFs to be 20-50% of BTC ETF inflows, with a target of $1 billion/month. The SEC has approved applicant filings, but S-1 filings are still pending. The conversion of the Grayscale Ethereum Trust into an ETF is also expected to influence market dynamics.

Portfolio Pulse from Murtuza Merchant

June 27, 2024 | 11:01 am

Bitcoin spot ETFs saw a net inflow of $21.5187 million on June 26, with significant contributions from Fidelity ETF (FBTC) and Grayscale ETF (GBTC). Despite this, the cryptocurrency market remains anxious. The U.S. government transferred 3,940 BTC to Coinbase Prime (COIN), and the German government has slowed its BTC transfers to exchanges. Analysts suggest the market may have priced in potential sell-offs, leading to strategies for accumulating Bitcoin.

Portfolio Pulse from Murtuza Merchant

June 27, 2024 | 10:51 am

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