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 $65,471.18
-2.94%
BlackRock
Comments

All Comments

Recommended for you

  • Cointime精选 ·

    Patron Wrap

    The Infinex Patron Sale wrapped up in September, and now the Patron Distribution is almost upon us, so I'm under pressure to write a retrospective on the sale. Also, I haven't been punched in the head this week, so my brain is working well enough for some long-form writing.
    Patron Wrap
  • Cointime精选 ·

    Joining Paradigm as an EIR

    I’m happy to share that I’ve joined Paradigm as an Entrepreneur in Residence to build the next generation of crypto{graphy & currency}-enabled consumer applications. I’m a long-time consumer builder excited to continue shipping crypto applications like my most recent launch TMR.NEWS, a new type of prediction market. Previously, I’ve built apps in dating, social, and games.
    Joining Paradigm as an EIR
  • Cointime精选 ·

    Swift could integrate with mBridge CBDC cross border payment system?

    During a panel at the SIBOS banking event today, Mu Changchun said that the mBridge cross border CBDC payment system could connect to traditional payments systems, including real time gross settlement systems (RTGS) and faster payment systems.
    Swift could integrate with mBridge CBDC cross border payment system?
  • Cointime精选 ·

    BTC Well Supported Into The US Election

    Bitcoin surged this week, approaching $69k with $72k in sight, thanks to October’s seasonal boost. But strong USD momentum, driven by US Treasury selling, is putting a temporary lid on BTC gains. Institutional interest remains strong, with $2.13 billion in BTC ETF inflows over the last six days. A major boost comes from the SEC approving BTC ETF options on the NYSE, enhancing liquidity.
    BTC Well Supported Into The US Election

  • JUP breaks through $1

    Golden Finance reported that according to market data, JUP has broken through $1 and is currently trading at $1.01, with a 24-hour increase of 3.06%. The market is volatile, so please be prepared for risk control.

  • Shenyu: The widespread existence of blind signature issues provides hackers with opportunities to take advantage of, and the problem must be solved

    Bitfish (@bitfish1) posted on X platform, stating that when there are security risks on the front end, hardware wallets should ensure asset security as the last line of defense. However, at present, blind signature issues are prevalent, which provides hackers with opportunities. This problem must be solved.

  • US CFTC: Federal court was "wrong" to allow Kalshi to launch prediction market

    Lawyers from the US Commodity Futures Trading Commission (CFTC) argued in a brief submitted to an appeals court that a federal judge "wrongly" allowed Kalshi to list and trade election contracts, and reiterated many of its arguments made in a lower court. Last month, a judge ruled that the CFTC could not prohibit Kalshi from listing election contracts. The regulatory agency applied for a stay to prevent the company from launching the product before the appeal's outcome, but the court's judge ruled that the CFTC failed to prove irreparable harm would be caused.

  • a16z releases 2024 State of Cryptocurrency Report, seven findings shed light on the current state of the crypto industry

    According to a report released on Wednesday by a16z crypto, the following seven survey results were published regarding their views on the state of cryptocurrency in 2024:

  • The head of the Financial Supervisory Service of South Korea: We are investigating various abnormal transactions including AVAIL on Bithumb

    On October 17th, the Chairman of the Financial Supervisory Service of South Korea, Lee Ju-yeol, stated during a parliamentary audit that "we are investigating the issue of AVAIL coins traded on Bithumb." AVAIL was listed at 263 Korean won on July 23rd and rose to 3,500 Korean won within 15 minutes, but it fell to 296 Korean won less than a day later, raising suspicions of price manipulation. In response, Min Byoung-dug, a member of the South Korean Democratic Party, stated that "the AVAIL token incident means that Bithumb's own abnormal trading system did not work at all. Bithumb said that only trades that account for more than 5% of the total issuance would be considered abnormal trades."

  • 76% of 80 family offices and high net worth individuals in Asia are involved in digital assets, and another 18% plan to invest in the future

    According to a report by Aspen Digital, a wealth management platform, 76% of private wealth in Asia has entered the digital asset space (compared to 58% in 2022), and another 18% plan to invest in the future. The report surveyed 80 family offices and high-net-worth individuals across Asia, most of whom manage assets between $10 million and $500 million.

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