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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 experienced net outflows for the fifth consecutive day, with a record $140 million in outflows on Thursday. BlackRock's iShares Bitcoin Trust (IBIT) was the only fund to see inflows, while Grayscale Bitcoin Trust (GBTC) and Fidelity's Bitcoin ETF (FBTC) saw significant outflows. The total outflows over the last five days reached $854 million.

Portfolio Pulse from Aniket Verma

June 21, 2024 | 9:22 am

Financial advisors are cautious in adopting Bitcoin ETFs despite significant interest from self-directed investors, hedge funds, and brokerages. BlackRock's Samara Cohen highlights the need for thorough risk analysis and due diligence due to Bitcoin's price volatility and regulatory concerns. Notable Bitcoin ETFs include BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT), Grayscale Bitcoin Trust (NYSE:GBTC), and Fidelity’s Wise Origin Bitcoin Trust (BATS:FBTC).

Portfolio Pulse from Benzinga Neuro

June 17, 2024 | 10:03 am

Bitcoin ETFs saw a net outflow of $226 million on June 13, with Grayscale's Bitcoin Investment Trust (GBTC) experiencing a $61.53 million outflow. However, BlackRock's iShares Bitcoin Trust (IBIT) saw a net inflow of $18.23 million. Market analysts attribute the outflows to miner capitulation and regulatory uncertainty. Despite this, Bitcoin's price rose to $67,000. Ethereum may present an accumulation opportunity ahead of a potential spot ETH ETF approval in late summer.

Portfolio Pulse from Murtuza Merchant

June 14, 2024 | 11:59 am

Bitcoin spot ETFs experienced a significant net inflow of $101 million on June 12, reflecting growing investor confidence. Fidelity’s ETF (FBTC) led with $50.623 million, followed by BlackRock’s ETF (IBIT) with $15.5789 million. Grayscale’s ETF (GBTC) saw no net change. This surge comes amid expectations of potential rate cuts in 2024.

Portfolio Pulse from Murtuza Merchant

June 13, 2024 | 11:21 am

Bitcoin climbed above $67,500 despite $200 million outflows from U.S. Bitcoin spot ETFs, primarily driven by Grayscale’s Bitcoin Trust (GBTC). The total net asset value of all U.S. Bitcoin spot ETFs has dipped below $60 billion. The market is awaiting the FOMC interest rate decision.

Portfolio Pulse from Murtuza Merchant

June 12, 2024 | 10:04 am

Bitcoin's price dropped 4% on Tuesday, raising questions about the cause and future trajectory. Analysts are divided, with some calling it a 'scam dump' and others seeing it as a buying opportunity ahead of key economic data releases and the Federal Reserve's interest rate decision. Notably, Grayscale ETF (GBTC) experienced significant outflows, while Bitwise ETF (BITB) and BlackRock ETF (IBIT) saw inflows.

Portfolio Pulse from Murtuza Merchant

June 11, 2024 | 12:55 pm

Bitcoin prices fell sharply to $67,000, raising concerns about a potential reversal in the bullish trend. Analysts highlight insufficient bid support and anticipate continued volatility due to upcoming U.S. macroeconomic data releases. Bitcoin ETFs saw mixed flows, with Grayscale experiencing significant outflows.

Portfolio Pulse from Murtuza Merchant

June 11, 2024 | 11:36 am

Bitcoin spot ETFs in the U.S. have seen a record-breaking 18-day streak of net inflows, reflecting growing institutional demand for cryptocurrencies. BlackRock's iShares Bitcoin Trust (IBIT) led with $350 million in inflows, while Grayscale Bitcoin Trust (GBTC) saw net outflows of $38 million.

Portfolio Pulse from Aniket Verma

June 07, 2024 | 8:21 am

Bitcoin spot ETFs have recorded 17 consecutive days of net inflows, reaching a cumulative $15.3 billion year-to-date. Individual ETFs like Grayscale's GBTC, Fidelity's FBTC, BlackRock's IBIT, and Ark Invest's ARKB saw significant inflows. The positive trend is driven by low jobless claims and anticipated CPI data, with speculation of potential rate cuts adding momentum. Ethereum's performance lags due to delays in ETF approval.

Portfolio Pulse from Murtuza Merchant

June 06, 2024 | 10:50 am

Bitcoin spot ETFs recorded a net inflow of $887 million on June 4, marking the second-highest single-day net inflow in history. Grayscale, Fidelity, and BlackRock led the charge with significant inflows into their Bitcoin investment products. Year-to-date inflows have surpassed $15 billion, indicating a bullish market. Ethereum also saw positive inflows following the SEC approval of a spot-based Ethereum ETF.

Portfolio Pulse from Murtuza Merchant

June 05, 2024 | 10:27 am

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