Grayscale submits ETF S-3 document and plans to change GBTC code to BTC
Bloomberg analyst James Seyffart stated on X platform that Grayscale has submitted a new S-3/prospectus for the conversion of GBTC, and the biggest update is the plan to change the code of GBTC to BTC, which is in line with analyst expectations.
Grayscale: Javier Milei as Argentina’s president could pave the way for greater acceptance and integration of cryptocurrencies in the country’s economy
According to a report by Grayscale Research, the election of liberalist Javier Milei as the President of Argentina could potentially lead to a chain reaction in the traditional finance and cryptocurrency fields. Grayscale Research stated: "His presidential term may pave the way for greater acceptance and integration of cryptocurrencies in the Argentine economy, providing potential solutions to long-standing issues of inflation and financial instability."
Grayscale GBTC negative premium rate narrowed to 10.11%, hitting a new low since August 12, 2021
According to Coinglass data, on November 20th, the Grayscale GBTC negative premium rate has narrowed to 10.11%, hitting a new low since August 12th, 2021.
ARK Fund has reduced its GBTC holdings by a total of US$12.33 million since November.
ARK Invest's holdings data shows that as of the time of writing, the ARK Invest ETF has reduced its holdings of 425,467 shares of GBTC since November, with a value of approximately $12.33 million at current prices. As of Friday's close, GBTC closed at $28.99. It is worth noting that since ARK Invest increased its holdings by 11,249 shares of GBTC on September 5, it has not increased its holdings of GBTC.
Cathie Wood: Grayscale GBTC will lose its advantage if Bitcoin spot ETF is approved
Cathie Wood, CEO of ARK Invest, said in an interview with CNBC that once a Bitcoin spot ETF is approved, Grayscale GBTC will lose its advantage in this field.
Bloomberg Analyst: Grayscale Ethereum Futures’ 19b-4 Submission Delayed
Bloomberg analyst James Seyffart stated on X platform that the submission of Grayscale Ethereum Futures' 19b-4 has been delayed, which is not surprising, as they also separately submitted an application to convert ETHE to ETF.
Grayscale GBTC’s negative premium rate narrowed to 10.35%, and FIL’s premium rate was as high as 901%
According to Coinglass data, the current total value of Grayscale's holdings is approximately $29.492 billion, with a negative premium rate of 10.35% for Grayscale Bitcoin Trust Fund (GBTC) and a premium rate of 13.94% for ETH Trust. In addition, the trading price of Grayscale's Chainlink Trust (GLINK) is $49, which is a 250% premium over the spot price of LINK. Solana Trust (GSOL) is priced at $202, which is an 869% premium over SOL, while its Filecoin (FIL) product has a premium of 901% and its Decentraland (MANA) product has a premium of 308%.
Grayscale GBTC negative premium rate has narrowed to 10.35%
According to Coinglass data on November 12, the current premium rate of Grayscale Bitcoin Trust Fund (GBTC) is 10.35%; the premium rate of ETH Trust is 13.94%.
In addition, the premium rate of ETC Trust is 38.79%, the premium rate of LTC Trust is 7.11%, and the premium rate of BCH Trust is 5.29%.
Lawyer: NYSE Arca expected to file 19b-4 on GBTC conversion
Grayscale won a lawsuit against the SEC in August, and the Washington DC Circuit Court of Appeals made an official ruling last week. Last month, the company submitted an application to the SEC to register GBTC stocks on the S-3 form under the 1933 Securities Act. The SEC needs to sign this form and the 19b-4 document submitted by NYSE Arca on behalf of Grayscale in order to continue the conversion. Jay Gould, special advisor to Baker Botts law firm, expects NYSE Arca to resubmit the 19b-4 on behalf of Grayscale, as this may be the fastest and most effective solution. If the SEC rejects the request again, Grayscale may find it necessary to "return to court."
Grayscale Crypto Division Divides Crypto Assets into Five Major Categories
On October 26th, Grayscale announced that its cryptocurrency division has grouped cryptocurrencies by function from both a technical and user perspective to help investors understand the cryptocurrency field and its related developments. Based on three main criteria - how the protocol works, its use cases, and how it provides investable risk exposure - Grayscale has divided cryptocurrencies into five categories including currency, smart contract platforms, finance, consumer and culture, and utilities and services.
