Grayscale Bitcoin Trust (GBTC) shares hit a record-high discount rate relative to the price of bitcoin (<a href="https://www.coindesk.com/price/bitcoin/">BTC</a>), pushing past 50% for the first time after the U.S. Securities and Exchange Commission <a href="https://www.coindesk.com/policy/2022/12/12/sec-strikes-back-in-grayscale-suit-over-gbtc-etf-conversion/">reiterated its reasons for denying</a> an application to convert the world’s largest bitcoin fund into an exchange-traded fund.

The Grayscale Bitcoin Trust (GBTC) is selling at a 48.62% discount, worrying investors and analysts. They believe a sell-off could be imminent as DCG also faces financial issues.

The price of Grayscale Bitcoin Trust (GBTC) versus the bitcoin it actually holds hit an all time low on Wednesday, with the discount ratio reaching 47.3%, according to data from The Block.

Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC), is trading close to 50% below the BTC price on spot markets.

New York-based hedge fund Fir Tree Capital Management has filed a lawsuit against digital asset manager Grayscale Investments over “potential mismanagement and conflicts of interest” at the firm’s flagship Bitcoin fund, according to a Bloomberg report.

Hedge fund Fir Tree is suing crypto investment firm Grayscale to obtain details about its flagship Grayscale Bitcoin Trust (GBTC), in order to investigate potential mismanagement and conflicts of interest, according to a report from Bloomberg.

The size of Grayscale's Bitcoin Trust (GBTC) could pose a potential problem for the entire market — at least according to a UBS report.&nbsp;

Barry Silbert, the man atop this shaky DCG / Genesis / GBTC empire, shows how stereotypes hinder investors’ ability to properly manage risk.

Grayscale Bitcoin Trust premium rate recovers from -46% to -40% as Cathie Wood’s Ark Invest buying GBTC shares rebuilds confidence in the crypto market. Meanwhile, Binance allocates over $2 billion in BUSD to its Industry Recovery Initiative to help projects recover from liquidity issues following the collapse of crypto exchange FTX.

An independent analyst has confirmed that GBTC owns approximately 633,000 Bitcoin held by its custodian – Coinbase Custody. This comes as Grayscale, the asset manager running the world’s largest bitcoin fund, revealed that it won’t share its proof of reserves with customers.