The current negative premium rate of Grayscale GBTC is 8.09%
According to Coinglass data, the current Grayscale Bitcoin Trust (GBTC) negative premium rate is 8.09%. Additionally, the Grayscale Litecoin Trust has a premium rate of 28.36%, the Bitcoin Cash Trust has a premium rate of 13.99%, the Zcash Trust has a premium rate of 6.05%, the Solana Trust has a premium rate of 308.53%, and the Filecoin Trust has a premium rate of 713.54%.
Grayscale updates GBTC protocol for first time since 2018 to prepare for ETF conversion
Grayscale, the management company of the Grayscale Bitcoin Trust Fund (GBTC), is updating the trust agreement for the first time since 2018. The purpose of this update is to optimize the structure of GBTC in order to achieve the expected upgrade to a spot Bitcoin exchange-traded fund (ETF) and provide a fair competitive environment for asset management giants such as BlackRock. The GBTC update will be subject to shareholder voting, which will involve two proposed modifications to the trust agreement.
FTX approved to sell $744 million of Grayscale assets
FTX has been approved to sell $744 million in Grayscale assets, according to Bloomberg.
Grayscale EETH negative premium rate has narrowed to 12.19%
According to Coinglass data, the Grayscale Bitcoin Trust (GBTC) negative premium rate has narrowed to 8.76%, while the Ethereum Trust (ETH) negative premium rate is 12.19%. In addition, the Ethereum Classic Trust (ETC) has a negative premium of 30.67%, while the Litecoin Trust (LTC) has a positive premium of 21.45% and the Bitcoin Cash Trust (BCH) has a positive premium of 16.75%.
U.S. SEC announces memorandum on discussions with BlackRock and Grayscale on listing of Bitcoin ETF
On November 26th, the official website of the US Securities and Exchange Commission (SEC) disclosed two memorandums.One memorandum shows that on November 20th Eastern Time, the SEC discussed the proposed rule changes for the listing and trading of Grayscale Bitcoin Trust ETF with Grayscale.<br>The other memorandum shows that on the same day, the SEC held a meeting with BlackRock, the world's largest asset management company, to discuss proposed rule changes for the listing and trading of iShares Bitcoin Trust ETF. The memorandum shows two ETF redemption methods: In-Kind Redemption Model or In-Cash Redemption Model. In-Kind Redemption Model means that the final redemption is the Bitcoin shares held by the ETF, while In-Cash Redemption replaces Bitcoin shares with equivalent cash. Bloomberg ETF analyst James Seyffart tweeted that BlackRock seems to prefer the former. <br>
Grayscale GBTC negative premium rate has narrowed to 8.07%
According to Coinglass data reported by Golden Finance, the negative premium rate of Grayscale GBTC has narrowed to 8.07%, the negative premium rate of ETH trust is 12.73%. In addition, the negative premium rate of ETC trust is 33.31%, the positive premium rate of LTC trust is 12.40%, and the positive premium rate of BCH trust is 13.20%.
JP Morgan: GBTC may face $2.7 billion in outflows when converted to ETF
Morgan Stanley analysts have stated that since the beginning of this year, traders have been buying Grayscale Bitcoin Trust (GBTC), with the trading price of GBTC being lower than the potential value of the Bitcoin it holds. This is likely in the hopes of earning a profit from the price difference when it is converted into physical Bitcoin ETFs. This means that many GBTC traders will seek to cash out when it is converted into ETFs. Morgan Stanley's analysts have reviewed the fund inflows of GBTC since 2023 to calculate the value of GBTC that may be sold during the conversion. The analysts estimate this number to be approximately $2.7 billion.
Grayscale’s new prospectus: Plans to change stock code “GBTC” to “BTC”
Bloomberg ETF analyst James Seyffart posted an article stating that Grayscale has submitted a new S-3/prospectus for the conversion of GBTC to ETF. The biggest update is the plan to change the code "GBTC" to "BTC", confirming that Grayscale is negotiating with the SEC and updating/changing its product documentation after discussing and receiving feedback from the SEC.
Grayscale Submits New S-3 Filing Documents for GBTC’s Application to Convert to Spot Bitcoin ETF
On November 23rd, Bloomberg ETF analyst James Seyffart posted that Grayscale has submitted a new S-3/prospectus for the conversion of GBTC to ETF, and the biggest update is the plan to change the stock code from "GBTC" to "BTC". This confirms that Grayscale is negotiating with the SEC and updating/changing its product documents after discussing and receiving feedback from the SEC.
Grayscale GBTC negative premium rate has narrowed to 9.78%
According to Coinglass data on November 23rd, the premium rate of Grayscale GBTC has narrowed to 9.78%, while the premium rate of ETH trust is 13.73%. In addition, the premium rate of ETC trust is 32.45%, the premium rate of LTC trust is 8.07%, and the premium rate of BCH trust is 12.89%.
