Grayscale is confident demand for GBTC will return as Canada's Purpose Bitcoin ETF buys some serious BTC.
) descending to $24,000 has cost its largest institutional investment vehicle more than the average hodler.on May 13, the Grayscale Bitcoin Trust is now trading at a nearly 31% discount.Amid ongoing market volatility this week, GBTC has seen its fledgling recovery fall flat on its face — for the time being.
As of May 13, the discount was 30.6%, meaning that shares in GBTC traded at almost one third below the Bitcoin spot price .to a 21% discount. “It took clarity and conviction to set up GBTC, and now Grayscale is demonstrating courage and commitment in their campaign to convert GBTC into a Spot Bitcoin ETF. They deserve your support,” MicroStrategy CEO, Michael Saylor,Such a move would be unprecedented in the United States, where the Securities and Exchange Commission has lagged behind other countries’ authorities in approving a Bitcoin spot-based ETF.
“I do think when things settle down and crypto starts to find its footing you will see some of those more institutional buyers starting to step in and some have already indicated that they are in fact starting to take buys at these levels.”Purpose Bitcoin ETF sees record daily buy
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Why the world needs a spot Bitcoin ETF in the US: 21Shares CEO explainsApproval of a spot Bitcoin ETF by the SEC is one of the most anticipated events in the industry. 21Shares CEO hany explains why there’s so much hype, along with its capability to open up the crypto market to institutional and retail investors.
Baca lebih lajut »
This portfolio manager's strategy uses just one ETF and his own 'crash indicator' to beat the market by 530%Our call of the day from Thomas Kee Jr. is pounding the table over the importance of volatility, but says investors need to not just fear the lows, but...
Baca lebih lajut »
Robert Kiyosaki Asserts “Bitcoin Will Win” As BTC Enters Brutal Bearish Storm⬆ +13 Robert Kiyosaki Asserts “Bitcoin Will Win” As BTC Enters Brutal Bearish Storm $BTC bitcoin cryptocurrency
Baca lebih lajut »
Bitcoin Analyst Plan B Shares One Bullish Metric Amid CarnageOne of the most renowned Bitcoin (BTC) bulls brings a little chunk of hope amid an accelerating bloodbath
Baca lebih lajut »
Bitcoin price sees 'hell of a reversal candle' as 168,000 BTC leaves exchangesBTC price action rebounds as Bitcoin shrugs off Terra sell pressure.
Baca lebih lajut »
Chinese high court rules Bitcoin has economic value and is legally protectedChina’s controversial cryptocurrency landscape has taken a new twist after the Shanghai High People’s Court ruled that Bitcoin has a... Continue reading
Baca lebih lajut »