Grayscale transfers 4,000 BTC to Coinbase Prime, may conduct ETF redemption activity
Grayscale has started to move Bitcoin out of its trust and began sending it to Coinbase at 2 pm Greenwich Mean Time. So far, a total of 4,000 BTC (about $200 million) has been sent, and all Bitcoin has been sent to Coinbase Prime.
Grayscale's Bitcoin Fund Sees Discount to NAV Shrink to 0% After SEC Approval for ETF Conversion
Grayscale's bitcoin fund, GBTC, has reached a 0% discount to net asset value for the first time since February 2021 after receiving approval from the US Securities and Exchange Commission to convert into a spot bitcoin exchange-traded fund (ETF). The fund previously traded at a discount to the price of bitcoin it held, hitting record lows of nearly 50% in December 2022. The discount began to narrow as expectations of an ETF approval surfaced last summer and on rising bitcoin sentiment. The conversion to an ETF allows for an arbitrage mechanism that enables market makers to create or redeem shares at their discretion, which should prevent future discounts.
GBTC has officially completed its transformation into an ETF
Eric Balchunas, an ETF analyst at Bloomberg, stated on X platform that GBTC has officially completed its transition to an ETF.
Grayscale Bitcoin ETF has made its first pre-market trade on the NYSE
The Grayscale Bitcoin ETF has reportedly conducted its first pre-market trading on the New York Stock Exchange (NYSE), as disclosed by Bitcoin Archive.
Grayscale has filed a revised Form S-1 for spot Bitcoin ETF
Grayscale has submitted a revised application for a spot Bitcoin ETF on Form S-1.
Grayscale files updated version of its Spot Bitcoin ETF S-1 Application
According to the SEC official website, Grayscale submitted an updated version of its spot Bitcoin ETF S-1 application, with an ETF fee of 1.5%.
Grayscale GBTC negative premium rate narrowed to 5.59%
According to Coinglass data on January 7th, the Grayscale GBTC negative premium rate has narrowed to 5.59%, and the ETH trust premium rate is 9.96%. In addition, the ETC trust premium is 30.87%, the LTC trust premium is 172.11%, and the BCH trust premium is 119.02%.
Cointime January 6 News Express
1.Boomberg: SEC commissioners are expected to vote next week on 19b-4 documents submitted by Bitcoin spot ETF issuers
Grayscale: Investors don’t have to take any action if SEC approves spot Bitcoin ETF and allows GBTC to list on NYSE Arca
Cryptocurrency asset management company Grayscale has tweeted that it disclosed specific details about a physical Bitcoin ETF in its recent Q&A information. It was pointed out that if the US Securities and Exchange Commission approves the physical Bitcoin ETF and allows GBTC to be listed on NYSE Arca, investors do not need to take any action. When investors check their holdings of GBTC stocks after they are listed on NYSE Arca, they will only see these stocks listed on NYSE Arca, not quoted on OTCQX. GBTC will retain the same stock code (GBTC) and the same CUSIP, and investors will continue to be able to buy and sell GBTC stocks at market prices.
Grayscale has included XRP in its digital large-cap fund
Fox Business reporter Eleanor Terrett stated on social media that after quarterly rebalancing, Grayscale has included XRP in its Digital Large Cap Fund, which aims to provide investors with investment opportunities in the digital asset market.
