Michael Sonnenshein, the CEO of leading asset management firm Grayscale Investments, believes the approval of spot Bitcoin exchange-traded funds (ETFs) could allow the crypto market to enjoy an inflow of $30 trillion in advised wealth. During an interview with CNBC’s Squawk Box, Sonnenshein said there is a lot of market optimism for Bitcoin (BTC) next...Read More
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...Read More
“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...Read More
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...Read More
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...Read More
Solana’s price is flying high again on crypto exchanges. However, regulated investors value SOL tokens at an astounding premium in Grayscale Solana Trust (GSOL). The average SOL price on crypto exchanges was just under $62 Saturday afternoon U.K. time, according to data from CoinGecko. That puts the smart contract blockchain platform up over 49% in...Read More
Grayscale’s Chainlink Trust – GLNK – has surged to a premium of 200% when compared to the current LINK market prices. GLNK has seen a remarkable surge of almost 100% in the last week, concluding at $39 on Monday, up from its level of $21 on October 31. It is also important to note that...Read More
The U.S. Court of Appeals for the D.C. Circuit has reaffirmed its prior ruling, directing the Securities and Exchange Commission (SEC) to review Grayscale Investments’ proposal to convert the crypto company’s leading GBTC fund into a Bitcoin exchange-traded fund (ETF). This development comes after the SEC’s recent announcement that it does not intend to appeal...Read More
Grayscale has submitted a fresh application to the Securities and Exchange Commission (SEC), aiming to establish one of the first spot Bitcoin exchange-traded funds (ETFs) in the United States through its Grayscale Bitcoin Trust. The filing revealed that Grayscale intends to list Grayscale Bitcoin Trust shares on the New York Stock Exchange (NYSE) Arca. Grayscale...Read More
Grayscale Bitcoin Trust (GBTC) – the world’s largest Bitcoin fund – reached its lowest point in 22 months last Friday. The decline in the discount has sparked optimism as spot Bitcoin exchange-traded funds (ETFs) in the United States are moving closer to becoming a reality. This comes as the SEC passed the deadline to appeal...Read More
Grayscale, the company behind the world’s largest crypto funds, has now moved to convert its Grayscale Ethereum Trust (ETHE) into a spot Ethereum (ETH) ETF. Since the announcement, shares for ETHE have shot up 2.71% on the day. Grayscale’s Pivot to Ethereum Per a press release shared by Grayscale CEO Michael Sonnhenshein, the conversion to...Read More
Amid increased regulatory scrutiny in the United States, Europe has become an attractive destination for crypto firms. Galaxy Digital, the crypto venture led by US billionaire Mike Novogratz, is now venturing into the European market for greener pastures. As part of this expansion, the company has appointed Leon Marshall, formerly an executive at the crypto...Read More
On September 19, Grayscale Investments filed with the Securities and Exchange Commission for a new ETF tracking Ethereum futures. The firm has filed under both securities acts, the Securities Act of 1933 and the Investment Company Act of 1940, reported the WSJ. This is worth noting because the SEC has approved Bitcoin futures ETFs registered...Read More
The largest cryptocurrency by market capitalization is pre-determined to have 21 million coins ever mined. Many BTC proponents believe this anti-inflationary feature should make the asset more scarce and valuable in time. The total amount of Bitcoin produced as of today stands at almost 19.5 million, with over 15% owned by ten individuals or organizations....Read More
Attorney John Deaton, known for his representation of XRP token holders involved in the legal battle against the US Securities Exchange Commission (SEC), has officially filed a formal notice of appearance as an Amicus Curiae in the LBRY lawsuit. This recent development follows LBRY’s filing of an appeal notice to the United States Court of...Read More
The Grayscale Ethereum Trust (ETHE) has recorded significant gains since Cathie Wood’s asset management firm ARK Invest and investment manager VanEck filed applications with the United States Securities and Exchange Commission (SEC) to launch a spot Ethereum exchange-traded fund (ETF). According to a tweet by blockchain intelligence firm IntoTheBlock, the ETHE discount to net asset value (NAV)...Read More
Blockchain analytics firm Arkham Intelligence has found that on-chain wallets tied to the Grayscale Bitcoin Trust (GBTC) hold more than $16 billion in BTC. In a recent tweet, the crypto data tracking platform said that the trust’s issuer, Grayscale Investments, is the second largest global bitcoin holder, with the assets spread across more than 1,750...Read More
After handily defeating the regulator in court, Grayscale sent a letter to the Securities and Exchange Commission (SEC) on Tuesday with key messages for the agency as it pursues next steps. Given the court’s ruling, Grayscale emphasized that the commission has run out of reasons to continue denying the launch of a Bitcoin spot ETF....Read More
Outflows have significantly slowed down, with bitcoin products showing resilience amidst a flatlined market trend. According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report,’ there is a glimmer of hope that negative sentiment may be starting to shift, as highlighted by the firm’s Head of Research, James Butterfill. Butterfill observed that...Read More
The US Court of Appeals for the DC Circuit overturned the country’s securities regulator’s rejection to review Grayscale’s application to turn its flagship fund into a spot Bitcoin ETF. Recall that the asset manager sued the Securities and Exchange Commission earlier this year. The Tuesday ruling ordered the SEC to “vacate” its decision to refute...Read More
Though many doubted their odds, Grayscale has defeated the Securities and Exchange Commission (SEC) in court, bringing the U.S. market one step closer to approval of a Bitcoin spot ETF. Going into its lawsuit, certain legal and market experts saw Grayscale’s victory as quite likely: Here are just a few of them Why Grayscale’s Victory...Read More
The U.S. Court of Appeals for the D.C. Circuit has released its full letter explaining its decision to rule in Grayscale’s favor in its lawsuit with the Securities and Exchange Commission (SEC). The decisive 3-0 victory for the company is based on the SEC’s “unreasonable” justification for favoring futures ETFs over spot products, and its...Read More
Crypto markets pumped $65 billion following the news that a court ruled in favor of Grayscale in its lawsuit challenging the SEC’s decision to deny conversion of its GBTC fund to an ETF. The big move has reversed the recent bearish sentiment as market analysts and observers are now eyeing the next bull cycle. On...Read More
US Representative Warren Davidson continues to push for Gary Gensler’s removal as the chairman of the Securities and Exchange Commission (SEC) following Grayscale’s recent win in court against the agency. Industry stakeholders and the broader crypto community believe Gensler and the SEC’s regulation by enforcement approach towards the crypto industry caused more harm than good...Read More
Grayscale CEO Michael Sonnhenshein spoke to CNBC’s Squawk Box on Wednesday on his company’s latest victory in its lawsuit against the Securities and Exchange Commission (SEC). While discussing next steps and the possibility of appeal, Sonnhenshein promised that Grayscale’s fees are prepared to drop should its Bitcoin trust successfully convert into an ETF. What’s Next...Read More
As the US Securities and Exchange Commission (SEC) faces mounting political pressure to greenlight a bitcoin ETF following its recent court loss, there’s an opposing viewpoint that insists on maintaining the current stance. However, CoinShares product head Townsend Landing believes the financial regulator is stuck in a maze of its own making. ‘Hoist With His...Read More
After suffering defeat against Grayscale in court, the Securities and Exchange Commission (SEC) is faced with a difficult decision on how to handle the wave of Bitcoin spot ETF applications knocking on its door. The agency need not approve the applications, however: instead, it may choose to rescind prior approval of the nation’s Bitcoin futures...Read More
Bitcoin (BTC) has slid back to the $26,000 price level, where it was before a U.S. court ruled in favor of digital asset management company Grayscale Investments in its lawsuit against the Securities and Exchange Commission (SEC). Crypto analytics firm Santiment noted that on-chain data shows that the digital asset has retraced its steps after...Read More
A few days ago, the U.S. Court of Appeals for the D.C. Circuit ruled in favor of digital asset management company Grayscale Investments in its lawsuit against the Securities and Exchange Commission (SEC). The court ordered the agency to review its rejection of Grayscale’s application to turn its flagship Grayscale Bitcoin Trust fund (GBTC) into...Read More
Grayscale wrote a letter to the U.S. Securities and Exchange Commission (SEC) on Thursday calling for the agency to simultaneously approve any qualifying Bitcoin spot ETF applications, so as to not “pick winners and losers.” However, the firm also argued that Coinbase shouldn’t qualify as a surveillance partner to launch such a product, under the...Read More
