Cointime

Cointime

Download App
iOS & Android
Home / Point

Grayscale Bitcoin Trust's Share Price Soars Amid Optimism About ETF Conversion After BlackRock's Filing

June 20 (Cointime) - The share price of Grayscale Bitcoin Trust (GBTC) rose above $16 for the first time since May 10, as investors became optimistic about the fund being converted into an exchange-traded fund (ETF) after BlackRock filed for a spot bitcoin ETF.

The discount on GBTC's share price relative to net asset value narrowed to as low as 33%, the lowest level since September 2020. The surge in price was due to investors being hopeful about the possibility of redeeming funds in the future and Grayscale winning an ongoing lawsuit against the US Securities and Exchange Commission (SEC) about converting the fund into an ETF.

There were also rumors about Fidelity possibly filing for a spot BTC ETF or acquiring Grayscale, but a Fidelity spokesperson denied any plans to file.

Bitcoin Bitcoin $98,508.29
-0.65%
BlackRock
Comments

All Comments

Recommended for you

  • CointimeSG ·

    This Is The Year Of Bitcoin, Not Ethereum

    Also Good Performance For The Miners And The US Economy Keeps Humming Along From the 2023 bear market bottom, Bitcoin has rallied almost  500%. Breaking the $100,000 mark will likely have a significant psychological impact on investors. After 15 years and a $2 trillion market cap, even Bitcoin's strongest critics will struggle to maintain their Ponzi scheme arguments.
    This Is The Year Of Bitcoin, Not Ethereum
  • Chainlink ·

    Chainlink Digital Asset Insights: Q3 2024

    The Chainlink standard continues to see adoption across the tokenization landscape, with recent developments in Q3 underscoring how Chainlink’s decentralized infrastructure plays a pivotal role in enabling smart, scalable, and secure tokenized real-world assets (RWAs).
    Chainlink Digital Asset Insights: Q3 2024

  • Robinhood Chief Legal Officer Dan Gallagher Says He Won't Become SEC Chairman

    According to market news, Dan Gallagher, the Chief Legal Officer of Robinhood, stated that he would not serve as the Chairman of the US Securities and Exchange Commission.

  • U.S. Supreme Court rejects Facebook's attempt to avoid shareholder securities fraud lawsuit

     US Supreme Court rejected Facebook's attempt to avoid shareholder securities fraud lawsuits under the META umbrella.
  • CointimeSG ·

    Texas judge tosses out SEC's expanded 'broker' rule, which broke with 90 years of legal tradition to rope in crypto traders

    A Texas court has order the U.S. Securities and Exchange Commission to throw out a controversial rule that broadly redefined the term “dealer” in a move that impacted both crypto-focused and traditional finance firms.
    Texas judge tosses out SEC's expanded 'broker' rule, which broke with 90 years of legal tradition to rope in crypto traders
  • CointimeSG ·

    Trump Media hints at crypto trading, payments in TruthFi trademark filing

    The new trademark filing from Trump Media and Technology Group mentions digital wallets, cryptocurrency payment processing services, and a digital asset trading platform.
    Trump Media hints at crypto trading, payments in TruthFi trademark filing

  • Family Offices Evolve into Powerful Investment Entities with Innovative Strategies and Advanced Technologies

    Family offices, which traditionally focused on conservative investment strategies, have transformed into powerful investment entities with a focus on alternative investments, private equity, co-investments, venture capital, and impact investing. This shift has been driven by innovative financial solutions and modern investment strategies, responding to technological advancements and an evolving global financial landscape. Family offices are taking a more active role in direct investments and co-investments, particularly in high-growth companies and startups, enhancing their control and flexibility. They are also diversifying further into private markets and real assets due to geopolitical and macroeconomic uncertainties, while embracing innovative financing solutions and cutting-edge risk management techniques. Additionally, family offices are implementing AI technologies to improve their decision-making processes, particularly in investment analysis, reflecting their commitment to innovation and strategic planning.

  • The Evolution of Family Offices: Embracing Innovative Investment Strategies and Technology

    Family offices have shifted from conservative investment strategies to more active roles in direct investments and co-investments, thanks to innovative financial solutions and modern investment strategies. They are now leaders in alternative investments, private equity, co-investments, venture capital, and impact investing, leveraging their capital through non-recourse and limited-recourse financing to expand their investments across sectors and regions. Family offices are also adopting sophisticated risk management strategies, diversifying further into private markets and real assets, and integrating advanced technologies such as AI-driven platforms to enhance decision-making processes. A family office in the UAE, International Venture Investments Holding, takes an active investment approach, emphasizing operational autonomy and forming dedicated management teams for specific projects. The UBS Global Family Office Report 2024 shows that 78% of family offices plan to invest in generative artificial intelligence in the next two to three years.

  • Source: a16z expected to get a seat on Trump’s cryptocurrency advisory board

    On November 22nd, according to multiple executives in the digital asset industry, many cryptocurrency companies such as Ripple, Kraken, and Circle are vying for seats on the cryptocurrency advisory committee promised by President Trump, seeking to have a say in their plans for US policy reform. One source said that the cryptocurrency department of venture capital giant Andreessen Horowitz, a16z, is expected to receive a seat, but currently an a16z spokesperson declined to comment on the matter.

  • UK to Draft Regulatory Framework for Crypto Industry by Early Next Year

    The U.K. intends to create regulations for the cryptocurrency industry by early 2022, with a focus on stablecoins and staking services. This announcement by Economic Secretary Tulip Siddiq at a conference in London will provide clarity for the industry after months of uncertainty. The new framework will be eagerly awaited by those in the industry, as Bitcoin continues to break records and gain mainstream acceptance.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company