Morgan Stanley Now Holds Bitcoin, It Bought $3.6 Million Worth of GBTC
Morgan Stanley, one of the world’s biggest investment bank with $6.5 trillion in assets under management, holds bitcoin on behalf of their fund customers.
Valkyrie Wants To ‘Manage and Sponsor’ Grayscale’s GBTC
Valkyrie Investments said it has a proposal for Digital Currency Group’s struggling Grayscale Bitcoin Trust and that it's ready to become a "sponsor and manager" of the fund.
Fir Tree: Grayscale Potential Tender Offer Is ‘Lip Service’
Just two days after Grayscale Investments floated the option of a tender offer for shareholders of its flagship bitcoin trust (GBTC), Fir Tree Partners on Wednesday demanded additional information about how it would work. Fir Tree — a long-time TradFi hedge fund firm with a sizable GBTC position that has previously sued Grayscale — appears intent on ramping up public pressure against the crypto investment firm. The idea appears to be a bid to force a resolution to the trust’s longstanding trading discount to its underlying spot bitcoins. Representatives for Fir Tree called Grayscale CEO Michael Sonnenshein “non-committal” in a statement, urging the company to ramp up liquidity for investors in the near term. (Blockworks)
Grayscale's Discount Almost Reaches 50%, 1 BTC Exposure Now Costs $8,400
The exposure price via one of the biggest trusts on the market has dropped to a yet unseen low. The unimaginable 50% discount to NAV is a new record we have never before witnessed.
If Grayscale’s Bitcoin ETF Dreams Fail, Firm May Try a Tender Offer, CEO Says
Grayscale Investments said the firm would explore new options to return a portion of the Grayscale Bitcoin Trust capital to shareholders if it fails to transform the world’s largest bitcoin fund into an exchange-traded fund.
Grayscale Bitcoin Trust Discount Reaches Record 50%
Grayscale Bitcoin Trust (GBTC) shares hit a record-high discount rate relative to the price of bitcoin (<a href="https://www.coindesk.com/price/bitcoin/">BTC</a>), pushing past 50% for the first time after the U.S. Securities and Exchange Commission <a href="https://www.coindesk.com/policy/2022/12/12/sec-strikes-back-in-grayscale-suit-over-gbtc-etf-conversion/">reiterated its reasons for denying</a> an application to convert the world’s largest bitcoin fund into an exchange-traded fund.
GBTC Discount Nears 50%, Crypto Investors Worry About Another Sell-Off
The Grayscale Bitcoin Trust (GBTC) is selling at a 48.62% discount, worrying investors and analysts. They believe a sell-off could be imminent as DCG also faces financial issues.
Grayscale’s GBTC Discount to NAV Hits All-Time Low of 47%
The price of Grayscale Bitcoin Trust (GBTC) versus the bitcoin it actually holds hit an all time low on Wednesday, with the discount ratio reaching 47.3%, according to data from The Block.
GBTC ‘Elevator to Hell’ Sees Bitcoin Spot Price Approach 100% Premium
Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC), is trading close to 50% below the BTC price on spot markets.
Grayscale Faces Lawsuit as GBTC Plunges to Record Low 43% Discount
New York-based hedge fund Fir Tree Capital Management has filed a lawsuit against digital asset manager Grayscale Investments over “potential mismanagement and conflicts of interest” at the firm’s flagship Bitcoin fund, according to a Bloomberg report.
