Tag Archives: Grayscale

After consistently denying approval for a spot Bitcoin ETF for American investors over the years, there are indications that SEC chair Gary Gensler might be reconsidering his position in light of Grayscale’s legal triumph. While he has not explicitly acknowledged any change in stance, he admitted taking a new look at the approval process of a spot Bitcoin ETF following the recent court rulings. Softening Stance? In an interview with CNBC’s “Money Movers,” Gensler said, “I...

“Tradfi” may be beginning to rotate into the ETH ETF trade after two months. As per a new report by Reflexivity Research, the annualized basis on CME has consistently increased, reaching over 18%. Bitcoin’s open interest in CME has also experienced continuous growth, surpassing $4.5 billion since the trend began two months ago. Notably, an interesting pattern has emerged when comparing CME activities between Bitcoin and Ethereum. Velo Data’s analysis reveals that the futures’...

The SEC has been asking prospective issuers to give well-detailed descriptions of their various spot Bitcoin ETF products. It appears that from here onwards,  there’s no going back on the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States. This follows after a recent Reuters report claimed that talks between the US Securities and Exchange Commission (SEC) and the asset manager applicants of the said ETFs have entered into a crucial stage. Anticipation Enters Top...

The Deribit exchange has recorded a new yearly high for Bitcoin perpetual futures open interest, a record not seen since BTC’s ATH. The amount of open interest in Bitcoin perpetual futures on the Deribit derivatives exchange has hit a new high of $740 million. This impressive level was last seen in November 2021 when Bitcoin hit its $68,000 all-time high. As of this writing, open interest in Bitcoin perpetual futures has fallen to $717 million. A rise in open interest in Bitcoin perpetual...

According to Matrixport, Bitcoin would rise close to its current all-time high by April, and hit $125K by end of 2024. Matrixport’s latest report predicts that the price of Bitcoin (BTC) will hit $125,000 by the end of 2024. The firm’s analysis hinges on a combination of historical data and market trends. These factors indicate the potential for a surge in price for the world’s leading cryptocurrency. Backed by insights into Bitcoin’s fifth bull market, Matrixport’s prediction adds to many...

The SEC website showed one memorandum with details of a discussion with BlackRock, and another one on a discussion with Grayscale. The US Securities and Exchange Commission (SEC) on Sunday revealed on its website one memorandum detailing discussions with financial giant BlackRock (NYSE: BLK), and another with crypto asset manager Grayscale Investments. These memos involved proposed rule changes concerning the listing and trading of spot Bitcoin exchange-traded funds (ETFs) by both...

Shares for the Grayscale Bitcoin Trust (GBTC) – the world’s largest Bitcoin fund – are nearly back to parity with Bitcoin (BTC)’s price after trading deeply underwater for the past two years. Their rising value reflects market confidence that Grayscale’s efforts to convert its fund into a Bitcoin spot ETF will prove successful. The SEC’s Promising Meetings Starting on Wednesday night, GBTC’s discount to NAV ratio shrank as low as 8.6%, according to Bloomberg ETF analyst Eric...

If the entire $2.7 billion exits the bitcoin market, it would exert significant downward pressure on bitcoin prices, the authors stated. However, if most of this $2.7 billion transitions into other bitcoin instruments, such as the newly established spot bitcoin ETFs post SEC approval, the negative market impact would be more moderate. Nevertheless, the bank indicated that Bitcoin continues to face downside risks, as some of the $2.7 billion is likely to exit the Bitcoin space completely. The...

Grayscale officials had previously met with the US SEC representatives to the division of trading and markets to discuss the proposed rule to list and trade GBTC under NYSE Arca. After the United States Department of Treasury purged Binance Holdings Ltd’s operations in the country, the pathway for spot Bitcoin exchange-traded funds (ETFs) was clear. Around the same time, Grayscale Investments, a digital asset management company owned by Digital Currency Group (DCG), was preparing to update...

Grayscale Investments, a prominent cryptocurrency asset manager, is making significant strides in its quest to convert its Grayscale Bitcoin Trust (GBTC) into a spot bitcoin exchange-traded fund (ETF). The company recently held a crucial meeting with the Securities and Exchange Commission (SEC) to discuss potential listing matters related to the shares of the product. Grayscale Meets with SEC to Discuss Listing Matters According to a memo published by the SEC, Grayscale...