Markets News
Bad times for the Grayscale Bitcoin Trust get even worse this week as its discount to BTC/USD approaches 50% for the first time.
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Bitcoin Investment Trust News
Bitcoin Investment Trust (BIT) is an open-ended private trust. BIT was launched in 2013 by Barry Silbert from Digital Currency Group. Currently, Bitcoin Investment Trust is sponsored by Grayscale Investments LLC. BIT is a wholly-owned SecondMarket Holdings, Inc. subsidiary and affiliate. According to the Bitcoin Investment Trust’s information given on their official website, the company enables investors to gain profit from Bitcoin price changes without the need of buying and storing cryptocurrency. Bitcoin Investment Trust’s shares were the first securities pegged by Bitcoin and traded publicly. Bitcoin Investment Trust’s stocks have officially received the ticker ‘GBTC.’ Bitcoin Investment Trust, whose value of share will be equal to about one-tenth of BTC’s price minus operational costs, has eliminated all regulatory constraints on its way to trade.
- Breaking news
Grayscale CEO Michael Sonnenshein on Wednesday said the company was “deeply disappointed” and “vehemently disagree” with the SEC’s decision to deny their application.
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Dark days for crypto institutional investors as contagion fears are magnified and asset prices tumble.
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“I think all options are on the table,” said the Grayscale CEO, adding that the company has put its “full resources” into converting its flagship Bitcoin trust.
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More capital enters the flagship Grayscale trust as it eyes regulator approval to become an exchange-traded fund later this year.
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There’s little to smile about when it comes to institutional participation in Bitcoin at the end of the year, data shows.
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The collaboration aims to give institutions access to digital assets with a new innovative product designed specifically for their needs.
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Holding such ETFs in registered accounts can either entirely offset or reduce capital gains tax liabilities for Canadian customers.
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A report on the firm's holdings to the SEC for Q2 2021 revealed the bank's trust division had 29,498 shares in Grayscale's Bitcoin Trust, worth more than $880,000.
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Wood recently asserted the crypto downtrend has improved the chances of a Bitcoin ETF securing regulatory approval.
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Ark’s Q1 SEC report revealed holdings of 639,069 shares in Grayscale's Ethereum Trust, worth more than $20 million.
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Rothschild Investment Corp, has acquired more than 250,000 shares in Grayscale’s ETH trust, and added 8000 shares to its BTC trust holdings — however the firm holds zero ties to the famed Rothschild family dynasty.
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The Toronto-based investment firm will put the matter to a vote in April.
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Investors looking to gain LTC exposure using traditional equities are willing to pay a premium of more than 1,800% to buy it via Grayscale Litecoin Trust.
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Grayscale Investments’ GBTC might be the absolute market leader but it is currently trading below fair value as the TSX Purpose Bitcoin ETF is seeing record inflows.
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