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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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BlackRock Inc. (NYSE:BLK) has submitted an amended S-1 form for its proposed spot Ether ETF, iShares Ethereum Trust Ether ETF (ETHA). The filing disclosed that a Seed Capital Investor purchased initial shares worth $10 million. Pending regulatory approval, the ETF can be redeemed for cash or ether. This follows the SEC's recent approval of several ether ETFs, boosting bullish sentiment in the crypto market.

Portfolio Pulse from Murtuza Merchant

May 30, 2024 | 12:35 pm

Bitcoin spot ETFs have seen positive net inflows, with BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund recording significant inflows. In contrast, Grayscale Bitcoin Trust experienced a notable outflow. Cathie Wood emphasized the political significance of cryptocurrency and ARK Invest's commitment to Bitcoin as a public good.

Portfolio Pulse from Murtuza Merchant

May 30, 2024 | 11:23 am

BlackRock's iShares Bitcoin Trust (IBIT) has become the largest Bitcoin fund globally, surpassing Grayscale Bitcoin Trust (GBTC) with nearly $20 billion in assets. The fund's success has contributed to Bitcoin's price surge and has outperformed MicroStrategy (MSTR) in Bitcoin holdings.

Portfolio Pulse from Anusuya Lahiri

May 29, 2024 | 4:27 pm

Bitcoin spot ETFs have seen record inflows of $14.9 billion year-to-date, with a notable shift in investor preference towards newer ETFs like BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund. Grayscale's Bitcoin Trust experienced significant outflows.

Portfolio Pulse from Murtuza Merchant

May 29, 2024 | 11:17 am

The SEC has approved applications to list eight U.S. Ethereum spot ETFs, signaling a significant shift in regulatory sentiment. Trading is expected to begin well ahead of November 2024. However, the debate around staking ETH for ETF shareholders remains unresolved. Ethereum-tracking funds and popular Bitcoin ETFs could see increased attention.

Portfolio Pulse from Surbhi Jain

May 24, 2024 | 12:55 pm

Bitcoin spot ETFs have recorded $108 million in inflows, marking nine consecutive days of positive inflows, while the Grayscale Bitcoin Trust (GBTC) saw outflows of $13.7209 million. BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) also saw significant inflows. Meanwhile, the potential approval of Ethereum ETFs raises questions about institutional interest, with predictions that they will hold only 10-15% of the assets managed by Bitcoin ETFs. Regulatory developments suggest a shift in how the SEC views Ethereum, potentially boosting market confidence.

Portfolio Pulse from Murtuza Merchant

May 24, 2024 | 11:27 am

Bitcoin spot ETFs have seen significant inflows, totaling $154 million on May 22, with BlackRock's Bitcoin ETF (IBIT) and Fidelity's Bitcoin ETF (FBTC) leading the way. In contrast, Grayscale's Bitcoin Trust (GBTC) experienced outflows. Ethereum ETFs, however, have had a lukewarm reception, particularly in Hong Kong. The SEC's potential approval of an Ethereum ETF has sparked debate within the crypto community.

Portfolio Pulse from Murtuza Merchant

May 23, 2024 | 11:03 am

VanEck's spot Ethereum ETF has been listed on the DTCC under the ticker symbol 'ETHV,' a critical step before potential SEC approval. The SEC's recent request for amended filings has raised approval chances to 75%. Other firms like BlackRock and Grayscale have also submitted revised filings.

Portfolio Pulse from Murtuza Merchant

May 22, 2024 | 6:17 pm

Bitcoin spot ETFs have seen a seventh consecutive day of inflows, totaling $306 million on May 21. BlackRock’s iShares Bitcoin Trust (IBIT) led with a $290 million inflow, while Fidelity Wise Origin Bitcoin Fund (FBTC) saw a $26 million inflow. Grayscale’s Bitcoin Trust (GBTC) had no net inflow. The total net asset value of all Bitcoin spot ETFs reached $58.910 billion, coinciding with Bitcoin prices climbing above $70,000.

Portfolio Pulse from Murtuza Merchant

May 22, 2024 | 11:47 am

Grayscale Investments announced the departure of CEO Michael Sonnenshein, with Peter Mintzberg set to take over. The Grayscale Bitcoin Trust (GBTC) has shown strong performance, with significant YTD and one-year returns. The approval of GBTC's conversion to a spot bitcoin ETF has bolstered its popularity. Technical indicators suggest a bullish outlook for GBTC.

Portfolio Pulse from Surbhi Jain

May 21, 2024 | 2:08 pm

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