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Since January, GBTC has seen capital outflows of $11.05 billion, according to data from crypto research firm BitMEX Research, even as bitcoin climbed to an all-time high and competitors recorded ...
A handful of hedge funds made a winning bet on approval of a spot bitcoin exchange-traded fund (ETF) by investing in the Grayscale Bitcoin Trust (GBTC) well ahead of regulatory sign off, according ...
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Grayscale was founded in 2013, launching a bitcoin trust that year. [4] In 2015, the company became a subsidiary of Digital Currency Group. [5] The same year, Grayscale Bitcoin Trust (OTCQX: GBTC) began trading over-the-counter on the OTCQX market, becoming the first publicly traded bitcoin fund in the United States.
Grayscale was the world’s largest asset manager for digital currency, as of December 2021, with more than $50 billion in assets under management. [7] Grayscale also manages the Grayscale Bitcoin Investment Trust (OTCQX: GBTC), which was the first publicly quoted security solely invested in the price of bitcoin upon its launch in 2013. [3]
After several delays, the Securities and Exchange Commission has finally made a ruling on the conversion of Grayscale’s Bitcoin Trust that was initially filed in October of 2021, denying the ...
According to a January 2021 SEC filing, Three Arrows owned almost 39 million units of Grayscale Bitcoin Trust (GBTC) at the end of 2020. [18] The firm invested approximately $200 million in LUNA tokens in February 2022. [4] [19] [20] In April 2022 Bloomberg reported that Three Arrows was planning to move its headquarters to Dubai from Singapore ...
That dynamic changed when Grayscale, a prominent crypto asset manager that runs the largest Bitcoin trust, sued the agency in 2022 for allowing futures-based ETFs but not spot vehicles.