Grayscale’s Bitcoin Trust (GBTC) Shares Jump 12%, Narrowing Discount to 38%
Grayscale’s Bitcoin Trust (GBTC) shares rose 12% on Jan. 9 to $9.65 and narrowed the discount to its net asset value to 38.55% — its largest one-day increase since February 2022, according to YCharts data.
Grayscale Bitcoin Trust Shares Jump 12%, Narrowing Discount
Shares in the troubled Grayscale Bitcoin Trust (GBTC) surged on Monday, narrowing its discount from Bitcoin.
AVAX Value Drops by 2% Following Grayscale Removal of Avalanche From Large Cap Fund
In its latest quarterly update, Grayscale announced the rebalancing of funds for the fourth quarter of 2022. As part of the rebalancing, Grayscale sold off a certain amount of its Digital Large Cap Fund and dumped its held tokens, including Avalanche Network token AVAX.
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)
