Tag Archives: Grayscale

Grayscale may consider a 20% tender offer on GBTC shares if its bid to convert into a Bitcoin spot ETF ultimately fails, said CEO Michael Sonnenshein to investors on Monday. In an interview on the same day, the executive also commented on the FTX’s collapse, the crypto bear market, and the state of Binance. Shoring Up GBTC In a conversation with CNBC, Sonnenshein acknowledged that the industry is going through a “crypto winter,” which will produce more “regulation” and...

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

The cryptocurrency industry was built on top of one slogan: “don’t trust, verify.” But Grayscale is different from the rest of the cryptocurrency-related businesses. In a recent Twitter thread pondering the need for transparency in the industry after the collapse of FTX, Grayscale attempted to calm its investors’ fears, assuring them that the regulations that apply to its various entities make an FTX-like scenario nearly impossible. Grayscale Says: Funds Are Safe, Trust Us...

Ark Invest – the technology-focused investment firm founded by Cathie Wood – has aped into Grayscale’s Bitcoin Trust (GBTC) after the world-leading digital asset fund marked another record-low discount last week.  Ark Investment Management bought 315,000 GBTC shares worth roughly $2.8 million on Monday for its ARK Next Generation Internet exchange-traded fund (ARKW). Ark’s purchase marks its first investment in the trust since July 2021, when Bitcoin drifted around a local...

A recent Grayscale-backed study suggests more than half of Americans agree that “cryptocurrencies are the future of finance.” The sentiment appears to span across the political aisle, as both 59% of Democrats and 53% of Republicans agree with the statement. Who Loves Crypto? The study, conducted by The Harris Poll on Grayscale’s behalf, surveyed over 2000 Americans over 18 years old between October 6 and 11. The data were weighted based on demographic characteristics like...

Grayscale’s lawsuit against the SEC has started gaining traction as prominent names from the crypto industry rallied behind the asset manager. The latest one to chime in is Coinbase. The cryptocurrency exchange has filed an amicus brief backing Grayscale Investment’s lawsuit against the United States Securities and Exchange Commission (SEC) for disapproving the company’s proposal for a spot Bitcoin ETF application earlier this year. “Double Standards” In its battle against...

Checking if the site connection is secure Enable JavaScript and cookies to continue www.coinspeaker.com needs to review the security of your connection before proceeding.

It has been a dull weekend for Bitcoin struggling to clear the $20,000 resistance zone. Further indicating a potential case of dwindling institutional interest in the flagship cryptocurrency is the Grayscale Bitcoin Trust (GBTC) discount registering a new record high. It was currently trading at a 36.7% discount against BTC spot prices, setting the largest discount in the history of the Bitcoin fund. The increased figures could also signal that players are looking at other...

Grayscale stated that the SEC’s application of its “significant market test” is deeply flawed and does not protect investors against potential fraud and manipulation in the underlying BTC markets. The SEC is notorious for turning down dozens of spot Bitcoin ETF applications over the past several years from major players including WisdomTree and Ark21Shares. Grayscale, for one, has taken the legal route to resolve the matter. It has argued that the regulator acted outside its...

Grayscale – the world’s largest cryptocurrency asset manager – has announced a new investment product providing exposure to Bitcoin mining hardware. The fund will raise money for buying Bitcoin ASIC machines, which will be operated by Foundry Digital to mine and sell Bitcoin on behalf of investors.  Grayscale’s Strategic Mining Play According to Grayscale’s website, Grayscale Digital Infrastructure Opportunities LLC (GDIO) is aimed at creating an income stream that...