The discount on the Grayscale Bitcoin Trust’s (GBTC) share price narrowed to around 40%, the lowest level in almost a month, after investment management giant BlackRock applied for a spot bitcoin ETF. sndr_krisztian reports
with the SEC, after the firm appealed the agency’s decision to deny converting its closed-end GBTC fund into an ETF. The so-called “GBTC discount” developed because the fund doesn’t allow redemptions, so investors can only sell their shares on secondary markets.
While crypto markets rallied in the past years, GBTC shares traded at a significant premium to net asset value. Notably, crypto hedge fund made outsized bets to harvest the premium, then spectacularly blew up when the fund’s shares turned into a discount as crypto prices cratered last year.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BlackRock Close to Filing for Bitcoin ETF Application: SourceSCOOP: Investment giant BlackRock is close to filling an application for a Bitcoin ETF, according to a source. IanAllison123 reports.
Read more »
BlackRock is close to filing for bitcoin ETF, CoinDesk reportsBlackRock is close to filing an application for a bitcoin ETF, CoinDesk reported, citing a source.
Read more »
BlackRock Bitcoin Bombshell: Leading ETF Expert Skeptical About RumorsBlackRock, the largest asset manager in the world with $10 trillion in assets under management, is rumored to be on the cusp of filing a Bitcoin ETF application
Read more »
Why BlackRock is reportedly close to applying for Bitcoin ETF, despite regulatory pressure on cryptoBlackRock, the world's largest asset manager, is reportedly close to filing an application for a bitcoin ETF, or exchange traded fund, according to a...
Read more »
BlackRock files for spot bitcoin ETF, with Coinbase as a crypto custodianThe firm filed an application with the Securities and Exchange Commission to launch the iShares Bitcoin Trust.
Read more »
BlackRock takes giant leap toward spot bitcoin ETF with SEC filingBlackRock took giant leap toward a spot bitcoin ETF, filing a registration statement with the U.S. Securities and Exchange Commission on Thursday.
Read more »