Market Analysis
Valkyrie Announces Plans To Become New Manager of Grayscale’s Bitcoin Trust
Valkyrie recently published a letter detailing its hopes and plans for the future of Grayscale’s Bitcoin Trust.
BTC$62,686.00-1.67%
ETH$1,666.62-3.16%
USDT$0.9987-0.01%
USDC$0.9996-0.01%
XRP$1.10-1.88%
SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
BTC$62,686.00-1.67%
ETH$1,666.62-3.16%
USDT$0.9987-0.01%
USDC$0.9996-0.01%
XRP$1.10-1.88%
SOL$69.40-3.23%
TRX$0.329-1.01%
FIGR_HELOC$1.03-0.16%
HYPE$61.30-7.24%
DOGE$0.0789-3.56%
USDS$0.9997+0.00%
RAIN$0.0157-2.06%
LEO$9.49-0.84%
ZEC$413.84-6.89%
XLM$0.1911-3.05%
GBTC’s discount decreased to a multi-month low after seemingly scoring a victory against the SEC in court.
Valkyrie recently published a letter detailing its hopes and plans for the future of Grayscale’s Bitcoin Trust.
Grayscale Bitcoin Trust represents the most dangerous domino in the FTX fallout.
The GBTC has traded at around a 36% discount against BTC spot prices, reaching a new record low.
Due to heavy Bitcoin investments from the firm, MicroStrategy shares had acted as a proxy ETF for some investors.
ETFs may give retail traders the chance to buy Bitcoin at a discount if they push price downwards.
Morgan Stanely has acquired over 7 million shares of Grayscale Bitcoin Trust, equivalent to more than 6,300 BTC.