Grayscale Files to Turn Its Bitcoin Fund Into A Spot ETF

Grayscale – the world’s largest Bitcoin fund – recently filed to turn their company into a Bitcoin spot ETF. This comes shortly after ProShares’ Bitcoin Futures ETF began trading on the New York Stock Exchange (NYSE) earlier today. If approved, Grayscale’s fund would become the first Bitcoin Spot ETF in the United States. Will the SEC Approve? As reported by Bloomberg, Grayscale’s filing would flip its $40 billion Bitcoin Trust (ticker GBTC) into an ETF. Michael Sonnhenshein, CEO of Grayscale,…

Grayscale Plans to Add DeFi Tokens to Expand its Investments

Grayscale has announced that it is possibly venturing into 13 cryptocurrencies. Some of the cryptocurrencies are Curve, Polygon, Ren, Solana, Ox, among others. In February, Grayscale announced that it was looking into 23 offerings. The list featured DeFi tokens like Polkadot, Aave, and MakerDAO. Grayscale Venturing More into DeFi Worldwide, Grayscale has emerged as the top digital asset manager that has over $34 billion in assets as of last week. In addition, the company administers trust funds and offers shares…

Grayscale Investments Announces Exploration of New Crypto Investment Trusts

Leading digital-asset investment firm Grayscale Investments has announced that it is considering several crypto-assets for potential product offerings. This, according to the firm, is part of its aims to diversify its current product portfolio.  23 Cryptocurrencies Under Consideration Grayscale revealed this latest development in a press release on February 26, 2021. According to the report, the firm is currently exploring 23 crypto-assets to expand its current investment products for its clients.  Several top cryptocurrencies are included, including smart contract-based platforms…

Social Media Giant Twitter Could Add Bitcoin To Portfolio Says CFO

Twitter CFO Ned Segal has hinted that the Social Media giant could add bitcoin to its balance sheets. This comes on the back of increasing demand for bitcoins from institutions in recent weeks.  Twitter could join Bitcoin Train Segal revealed this stance in an interview with CNBC on February 10, 2021, when quizzed about cryptocurrencies. The Twitter chief stated that the tech giant might consider bitcoin depending on a few factors.  Segal explained that if Twitter employees and clients request…

Investment Firm Microstrategy Makes Fresh Purchase of 295 Bitcoins

The world’s largest independent business intelligence firm, Microstrategy, has completed the purchase of 295 bitcoins for approximately $10 million. This latest purchase continues the company’s accumulation of BTC that began in 2020.  Microstrategy BTC Portfolio Worth $2.4 billion Microstrategy CEO Michael Saylor revealed this latest purchase on Twitter. According to the tweet, Microstrategy purchased the 295 bitcoins using cash per its treasury reserve policy. The firm also spent $10 million to complete this latest round of transactions, including fees and…

Grayscale Ethereum Trust Returns to Accredited Investors and Traders 

Major crypto asset management firm, Grayscale has announced that its Grayscale Ethereum Trust is now open again. It resumed its shares' private placement after shutting down in December and five other trusts amid a historic Ethereum bull run. Users can buy and sell shares of Grayscale's publicly traded Ethereum Trust. This avenue provides exposure to the largest decentralized smart contract platform without worrying about storage, security, or regulatory concerns. A Grayscale spokesperson said that the Trust's private placement is offered…

Future of Cryptocurrencies: The Progress During A Global Pandemic

Currency valuation worldwide faced turbulence last year; however, the cryptocurrency industry has seen an unprecedented bull run. Before 2020 came to an end, Bitcoin surged past $29,000, quadrupling in value during the pandemic year and thrusting itself into the center of conversations among big investors and Wall Street companies. Bitcoin's price trajectory in 2020 changed because of its growing adoption as a hedge against the potential currency debasement that might come from trillions of dollars of coronavirus-related stimulus payments from…

Canada’s Ninepoint Completes $180 Million IPO of Bitcoin Fund

The Canadian asset management firm, Ninepoint Partners, has recently raised a total of $180 million from investors in an Initial Public Offering (IPO) for its Bitcoin Trust Fund. In an official press release published Wednesday, the firm revealed that it had received regulatory approval earlier this month and has officially listed its shares for the Fund on the Toronto Stock Exchange. More Exposure The Fund was created to help investors gain exposure to the world of cryptocurrencies, bitcoin precisely, without…

Universities Following the Footsteps of Institutional Investors into the Crypto Space

Harvard University, Yale University, Brown University, and the University of Michigan are among the universities using their multi-billion-dollar donations to buy cryptocurrency directly from exchanges. Historically, universities have implemented two investment strategies with their donations: most have pursued very conservative investment strategies in well-known names and stable sectors. In contrast, some savvy schools in developing regions have taken risky bets to make big profits. First Institutions, Now Universities University donations have a unique legal structure that aims to raise investment…

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