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Competition among institutional Bitcoin services continues to heat up as fees are slashed in time for a fresh herd of investors entering. Go to Source Powered by WPeMatico
The founder of Bytetree Asset Management, Charlie Morris, has suggested the reduction of the GBTC management fee as one way Grayscale Investment can ease the current selling pressure and possibly reduce the discount on the shares. Morris says if no action is taken, “the selling pressure will build” and “could morph into a systemic risk.” … Read more
Grayscale Investments has launched five new cryptocurrency investment products, which are now available for subscription by eligible individual and institutional accredited investors. The company now offers a total of 14 crypto investment products. The new products are the Basic Attention Token (BAT) Trust, the Chainlink (LINK) Trust, the Decentraland (MANA) Trust, the Filecoin (FIL) Trust, … Read more
Gold bug and bitcoin opponent, Peter Schiff has alleged that the Digital Currency Group (DCG)’s plan to acquire GBTC shares worth $250 million could be an indication that Grayscale Investment will be reducing the value of its AUM. In addition, Schiff claims in his tweet that “Grayscale will be selling bitcoin to help raise the … Read more
An anonymous group has claimed that Blockfi, which has an estimated $1.8 billion in customer assets invested in Grayscale Investment’s GBTC, is facing potential insolvency issues associated with the negative premium on the GBTC shares. Using the negative premium of minus 7.89% on the GBTC shares to illustrate the extent of the problem, the anonymous … Read more
In a further sign of a shake-up in the institutional market, DCG is eyeing the purchase along with hiring ETF specialists. Go to Source Powered by WPeMatico
The premium on Grayscale Investment’s GBTC, which turned negative for the first time on February 23, is continuing its downward slide. As the latest Glassnode data shows, the GBTC was trading at a record low discount of -11.92% on March 4, 2021. According to the same data, this new low is a significant reversal from … Read more
History repeating itself have the potential to spark a 2-4X BTC price run, data covering the GBTC premium suggests. Go to Source Powered by WPeMatico
According to reports, Grayscale added 174,000 tokens to its litecoin holdings in the past month. This haul pushed its total holdings of the altcoin to 1.44 million. Following this acquisition, which represents 80% of all litecoin that were mined in the past month, the total value of Grayscale’s holdings of the altcoin is now just … Read more
Bitcoin bulls are looking to eliminate a key overhead resistance level in order to create a path to $55,000. Go to Source Powered by WPeMatico
