Grayscale

On Tuesday, the crypto market was off guard when Cathie Wood’s ARK 21Shares spot Bitcoin ETF (ARKB) experienced a significant outflow. This marked the first time since the introduction of spot Bitcoin ETFs in the United States that one of the “Newborn Nine” surpassed the outflows of Grayscale’s Bitcoin Trust (GBTC). On April 2, ARKB saw outflows of $87.5 million, approximately 1,300 BTC, as reported by Farside Investors, while Grayscale recorded a daily outflow of $81.9 million. This event marked…

The cryptocurrency market has witnessed a significant surge after a prolonged bear market and the intensified crypto winter caused by the collapse of crypto exchanges and firms during 2022 and part of 2023.  Notably, Bitcoin and other major cryptocurrencies have experienced substantial price surges, accompanied by renewed interest from institutional investors entering the market through recently approved spot Bitcoin exchange-traded funds (ETFs).  Adding to the industry’s positive outlook, asset manager and Bitcoin ETF issuer, Grayscale, believes that the current state…

On March 29, the firm announced its Grayscale Dynamic Income Fund (GDIF) stating that it is its first actively managed investment product. Grayscale added that the new fund aims to optimize income in the form of staking rewards associated with proof-of-stake crypto assets. It is the latest effort from the world’s largest crypto asset manager to retain clients and capital following a huge exodus from its flagship product (GBTC) and its conversion to a spot Bitcoin ETF. Grayscale Dynamic Income…

A recent Grayscale report underscored the importance of blockchain networks that offer utility, with Chainlink, VeChain, Filecoin, Lido DAO and Render among those highlighted. Utility and service blockchain projects offer oracles to connect off-chain and on-chain worlds, offer liquid staking solutions, and aggregate physical data through decentralized networks. Blockchain has evolved from underpinning purely speculative assets, and today, it offers real value to its ever-growing users. Championing this evolution are utility projects, and according to a recent Grayscale report, Chainlink,…

The outflows from the Grayscale Bitcoin ETF rocked the market hard last week, leading to a dramatic decline in the BTC price. However, with the new week, there has been a change in direction as investors begin to get bullish on Bitcoin once more. As a result, the outflows from the Grayscale ETF have slowed down, reaching one of its lowest points for the month. Grayscale Bitcoin ETF Outflows Drop 60% Grayscale outflows ramped up last week, spearheading what would…

The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF.  Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor.  Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…

Shares of the Grayscale Bitcoin Trust are once again trading at a record low relative to the fund’s net asset value. Each share is now 36.7% less valuable than the underlying Bitcoin that’s backing it.  Per Grayscale’s website, the total value of its 643,572 BTC under management is roughly $12.4 billion.  This puts its holdings per share at about $17.9. Meanwhile, its actual share value is currently just $11.46, Since shares of GBTC can’t be liquidated as easily as with…

Grayscale CEO Michael Sonnhenshein spoke to Fox Business on Wednesday about his fund’s rejected Bitcoin ETF application. Though he believes that Grayscale is receiving unfair treatment, he denies regulators having a larger agenda to suppress Bitcoin. During the interview, host Charles Payne asked if Sonnhenshein thought there were “underlying reasons” for its hesitancy to approve an ETF. In a similar vein, he asked whether the CEO viewed Bitcoin as a “threat” to the establishment. To the contrary, Sonnhenshein believes that…

Grayscale has failed to convince the Securities and Exchange Commission (SEC) to accept its spot Bitcoin ETF application. Following months of negotiations and campaigning to kindly persuade regulators, the fund will now take legal action against the commission. Why the Rejection? According to the SEC’s filing on Wednesday, Grayscale failed to prove that its product could protect investors, or prevent market manipulation. “As the Commission has explained, an exchange that lists bitcoin-based ETPs12 can meet its obligations…  by demonstrating that…