Bitcoin (BTC-USD) smashed its previous all-time high of just under $65,000 on Wednesday — just a day after the launch of ProShares’ Bitcoin Strategy ETF (BITO) on Tuesday, Oct. 19. In light of these developments surrounding bitcoin, Grayscale CEO Michael Sonnenshein believes that investment in crypto shows no signs of stopping. “Well, the asset class is here to stay, and investors have a general appreciation of that. Investing in crypto is now something thematic, right?” Sonnenshein… Source link
Read More »Bitcoin ETF’s ‘almost perfect’ debut nudges spot price closer to record; Grayscale joins the fray
Bitcoin sits above $64,000 on Tuesday, zeroing in on a record high as excitement over its first exchange-traded fund (ETF) — and another soon to come — reached a fever pitch. As the largest cryptocurrency by market capitalization rallied by over 4% on the day, The Proshares Bitcoin Strategy ETF (BITO) launched on the the New York Stock Exchange (NYSE) — the first ever BTC (BTC) related fund available to U.S. investors. While some market participants have questioned the utility of the… Source link
Read More »Grayscale Files to Turn Biggest Bitcoin Fund Into an ETF
(Bloomberg) — Grayscale Investments LLC and the New York Stock Exchange filed to convert the world’s biggest Bitcoin fund into an ETF, appealing to regulators for approval just as its wildly popular vehicle is beset with competition. Most Read from Bloomberg The application to flip the $40 billion Grayscale Bitcoin Trust (ticker GBTC) landed on the same day that the ProShares Bitcoin Strategy ETF (BITO) debuted, becoming the first exchange-traded fund in the U.S. investing in futures on the… Source link
Read More »Where bitcoin could become legal tender next: Grayscale CEO
Cryptocurrency bulls are lauding the decision by El Salvador to become the first country to accept bitcoin as legal tender. And one bitcoin fund manager believes other countries in emerging markets around the world could possibly follow suit. Michael Sonnenshein, CEO of Grayscale Investments, the world’s largest cryptocurrency fund manager by assets ($32 billion as of Sept. 3), spoke with Yahoo Finance Live and speculated where such countries could be located. “When we think about where… Source link
Read More »Grayscale Makes Cardano (ADA) its Third-Largest Holding
Grayscale has announced that it has updated its Digital Large Cap Fund to include Cardano (ADA) Grayscale has announced that it has added Cardano (ADA) to its large cap fund. The ADA holdings now make it the third-largest holding in the fund, behind bitcoin and ethereum. The company exposure to ADA is currently 4.26%. With bitcoin making up 67.47% and ethereum making up 25.39%. In fourth place is bitcoin cash with 1.03%. In an announcement on Twitter, Grayscale commented on the addition of ADA,… Source link
Read More »Morgan Stanley Buys Over 28,000 Shares of Grayscale Bitcoin Trust
Megabank Morgan Stanley has purchased 28,289 shares of Grayscale Bitcoin Trust through its Europe Opportunity Fund, according to an SEC filing. Grayscale is owned by CoinDesk parent company Digital Currency Group. Morgan Stanley has been increasingly active in the cryptocurrency space in recent months to meet growing demand from its clients. In April, the firm allowed a handful of its funds to invest indirectly in bitcoin through cash-settled futures contracts and Grayscale’s Bitcoin Trust,… Source link
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