AVAX Slips 2% As Grayscale Dumps Avalanche From Large Cap Fund
The Avalanche network’s AVAX token was down around 2% Friday morning after the Grayscale Digital Large Cap Fund dumped its holdings.
Grayscale Ethereum Trust Discount Sinks to 60%, GBTC Down to 45%
The Grayscale Ethereum Trust (ETHE) has fallen to a record discount of -60% as fears over liquidations mount.
Grayscale Holds 3.28% of BTC’s Supply and 2.54% of ETH as Bankruptcy Looms for Genesis, DCG
Grayscale Investments now holds an estimated 3.28% of Bitcoin’s total supply and 2.54% of Ethereum at a time when its parent company DCG, has a $1.1 billion financial hole.
Grayscale Ethereum Trust (ETHE) Currently Trading At A Record 60% Discount
The investment product’s market price is currently down by 85.26% year-to-date.
Valkyrie Proposed to Become Sponsor and Manager of Grayscale’s Bitcoin Trust
Valkyrie Investments announced in a Dec. 28 statement that it has submitted a proposal to become the sponsor and manager of Grayscale’s Bitcoin Trust.
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 May Liquidate 600,000 BTC Holdings Following SEC Opposition to ETF
Grayscale Investments may offer to buy up to 20% of Grayscale Bitcoin Trust (GBTC) shares. This is a move the company hopes will close the gap between the GBTC share price and the company’s underlying Bitcoin holdings.
Grayscale Ponders Tender Launch if ETF Conversion Fails
Michael Sonnenshein, the CEO of Grayscale Investments, categorically states that their ultimate preference lies in converting the GBTC to an ETF. Furthermore, this conversion is done for the benefit of the concerned investors. However, Grayscale Investments is also considering launching a tender offer for the GBTC shares. However, this is just in case a court does not allow the company’s intentions to convert the world’s biggest publicly traded crypto fund into an ETF.
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.
