Grayscale

Grayscale – the world’s largest Bitcoin fund – will see its Bitcoin Spot ETF application approved or denied by next week. Ahead of the Security and Exchange Commission (SEC)’s decision, CEO Michael Sonnenshein has issued a reflection letter to investors. He details the progress they’ve made with the transition, including thousands of SEC-directed letters from investors encouraging its acceptance. A Drawn-Out Battle In his letter shared on Monday, the CEO reminds investors that GBTC was designed to be an ETF…

Grayscale CEO Michael Sonnenshein believes it's only a matter of time before a Bitcoin spot ETF gets permission in the United States. He recently claimed that there may be grounds for a lawsuit against the commission if they don’t. A Matter of ‘When’ Speaking with CNBC last week, Sonnenshein explained why a recent futures ETF approval spells optimism for an upcoming spot variant. The SEC greenlighted the  Teucrium Bitcoin Futures ETF earlier this month, which was filed under the Securities…

Grayscale – the world’s largest Bitcoin fund – recently filed to turn their company into a Bitcoin spot ETF. This comes shortly after ProShares’ Bitcoin Futures ETF began trading on the New York Stock Exchange (NYSE) earlier today. If approved, Grayscale’s fund would become the first Bitcoin Spot ETF in the United States. Will the SEC Approve? As reported by Bloomberg, Grayscale’s filing would flip its $40 billion Bitcoin Trust (ticker GBTC) into an ETF. Michael Sonnhenshein, CEO of Grayscale,…

Grayscale has announced that it is possibly venturing into 13 cryptocurrencies. Some of the cryptocurrencies are Curve, Polygon, Ren, Solana, Ox, among others. In February, Grayscale announced that it was looking into 23 offerings. The list featured DeFi tokens like Polkadot, Aave, and MakerDAO. Grayscale Venturing More into DeFi Worldwide, Grayscale has emerged as the top digital asset manager that has over $34 billion in assets as of last week. In addition, the company administers trust funds and offers shares…

Leading digital-asset investment firm Grayscale Investments has announced that it is considering several crypto-assets for potential product offerings. This, according to the firm, is part of its aims to diversify its current product portfolio.  23 Cryptocurrencies Under Consideration Grayscale revealed this latest development in a press release on February 26, 2021. According to the report, the firm is currently exploring 23 crypto-assets to expand its current investment products for its clients.  Several top cryptocurrencies are included, including smart contract-based platforms…

Twitter CFO Ned Segal has hinted that the Social Media giant could add bitcoin to its balance sheets. This comes on the back of increasing demand for bitcoins from institutions in recent weeks.  Twitter could join Bitcoin Train Segal revealed this stance in an interview with CNBC on February 10, 2021, when quizzed about cryptocurrencies. The Twitter chief stated that the tech giant might consider bitcoin depending on a few factors.  Segal explained that if Twitter employees and clients request…

The world’s largest independent business intelligence firm, Microstrategy, has completed the purchase of 295 bitcoins for approximately $10 million. This latest purchase continues the company’s accumulation of BTC that began in 2020.  Microstrategy BTC Portfolio Worth $2.4 billion Microstrategy CEO Michael Saylor revealed this latest purchase on Twitter. According to the tweet, Microstrategy purchased the 295 bitcoins using cash per its treasury reserve policy. The firm also spent $10 million to complete this latest round of transactions, including fees and…

Major crypto asset management firm, Grayscale has announced that its Grayscale Ethereum Trust is now open again. It resumed its shares' private placement after shutting down in December and five other trusts amid a historic Ethereum bull run. Users can buy and sell shares of Grayscale's publicly traded Ethereum Trust. This avenue provides exposure to the largest decentralized smart contract platform without worrying about storage, security, or regulatory concerns. A Grayscale spokesperson said that the Trust's private placement is offered…

Currency valuation worldwide faced turbulence last year; however, the cryptocurrency industry has seen an unprecedented bull run. Before 2020 came to an end, Bitcoin surged past $29,000, quadrupling in value during the pandemic year and thrusting itself into the center of conversations among big investors and Wall Street companies. Bitcoin's price trajectory in 2020 changed because of its growing adoption as a hedge against the potential currency debasement that might come from trillions of dollars of coronavirus-related stimulus payments from…