CryptoNews: Grayscale Bitcoin Trust's (GBTC) share price rallied on Tuesday morning, fueled by expectations of its conversion into an exchange-traded fund (ETF) following BlackRock's recent filing for a spot Bitcoin ETF. 👁
The Surge in GBTC's Share Price Has Also Led to a Narrowing Discount Relative to its Net Asset ValueGrayscale Bitcoin Trust's share price rallied on Tuesday morning, fueled by expectations of its conversion into an exchange-traded fund following BlackRock's recent filing for a spot bitcoin ETF. GBTC shares on secondary markets surpassed $16 at one point, marking the first time since May 10.
The surge in GBTC's share price has also led to a narrowing discount relative to its net asset value. The discount hit a multi-month low of 33% during the morning on Tuesday, lower than the 34% recorded in early March and the lowest level seen since September of last year. This surge in investor optimism can be attributed to the possibility of future fund redemptions, along with the ongoing lawsuit between Grayscale and the U.S.
Furthermore, rumors have emerged surrounding Fidelity, another major investment management firm, potentially filing for a spot bitcoin ETF or acquiring Grayscale. However, a Fidelity spokesperson clarified that the company has not publicly announced any plans to file, stating that no filings have been made since the SEC's denial of the Wise Origin Bitcoin Trust application in March 2021.I've been writing about Bitcoin since 2014.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
GBTC trading volume spikes 400% after BlackRock files for bitcoin ETFDaily GBTC trading volume rose from $16.1 million to $80 million after BlackRock filed for a spot bitcoin ETF.
Lire la suite »
GBTC Share Price Soars, Discount Narrows to Multi-Month Low on BlackRock ETF Filing OptimismThe discount on GBTC's share price went as low as 33% Tuesday, a multi-month low. Investors turned upbreat about Grayscale allowing redemptions in the future after BlackRock’s filing for spot bitcoin ETF, NoelleInMadrid said. sndr_krisztian reports
Lire la suite »
Bitcoin price nears $29,000 after flurry of Bitcoin ETF applicationsThe price of bitcoin has surged after a wave of Bitcoin ETF applications by BlackRock, WisdomTree and Invesco.
Lire la suite »
Valkyrie joins race for spot bitcoin ETF with Wednesday SEC filingValkyrie Funds, which already offers a Bitcoin Strategy ETF and a Bitcoin Miners ETF, is joining the race for the first spot bitcoin ETF.
Lire la suite »
Bitcoin pops above $30,000 as WisdomTree and Invesco join the bitcoin ETF rush: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Zac Townsend of Meanwhile, a life insurer that operates solely in cryptocurrency, weighs in on financial institutions moving forward with crypto projects despite the SEC's recent crackdown on exchanges.
Lire la suite »
BlackRock ETF launch would put pressure on Grayscale's valuation: Bloomberg analystBlackRock's entrance into the Bitcoin ETF market would put pressure on Grayscale's valuation and fees, according to Bloomberg Intelligence analyst James Seyffart.
Lire la suite »