Crypto traders are eagerly awaiting a ruling on the Grayscale Trust vs SEC case, which may require the SEC to re-review the application for a spot Bitcoin ETF, potentially leading to a 240-day delay.
The US Court of Appeals has once again delayed its decision on whether Grayscale can convert its Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF), causing uncertainty and leaving investors waiting for clarity.
BlackRock, the world's largest asset manager, has filed a proposal to establish a Bitcoin exchange-traded fund (ETF), which could increase mainstream acceptance of Bitcoin investing and open up new investment opportunities if approved by the U.S. Securities and Exchange Commission (SEC).
Marathon Digital Holdings (MARA) is unlikely to outperform Bitcoin or Grayscale Bitcoin Trust (GBTC) due to its negative value as a mining business and its stock trading at a large premium to its net asset value (NAV). MARA consistently fails to mine Bitcoin at a cost below its market price, resulting in negative profits from mining operations. Additionally, the stock is trading at a 158% premium to NAV, making it an unfavorable investment compared to BTC or GBTC.
A series of Bitcoin Exchange Traded Fund (ETF) applications have been submitted to the SEC, potentially offering investors a more accessible way to invest in cryptocurrency and bridging the gap between traditional finance and digital assets.
Bitcoin and other cryptocurrencies experience a surge in value as Grayscale Investments wins a court decision that increases the likelihood of a spot Bitcoin exchange-traded fund being approved.
Bitcoin rallied after a U.S. court ruled against the SEC's denial of Grayscale's request to convert its bitcoin trust into an ETF, resulting in a surge in bitcoin prices and a significant increase in coins moved to centralized exchanges.
Bitcoin prices surged 7% after a federal appeals court ordered the US Securities and Exchange Commission to reconsider its rejection of the Grayscale Bitcoin Trust's bid to convert into an exchange-traded fund (ETF), potentially opening the door for a spot Bitcoin ETF in the US; however, some remain cautious about the optimism surrounding the decision.
The average trade size of Bitcoin on most exchanges increased significantly following a court ruling that the SEC must review its rejection of Grayscale Investments' attempt to convert the Grayscale Bitcoin Trust into an ETF, suggesting increased activity by large traders. Additionally, Bitcoin's price climbed over 7% as market confidence in a bitcoin spot ETF approval grew.
Grayscale Investments CEO Michael Sonnenshein believes that the recent court decision in favor of Grayscale could lead to a new and unprecedented environment for cryptocurrencies, potentially expanding mainstream acceptance of digital assets and boosting the chances for other asset managers to win approval for their bitcoin products.
Bitcoin led the cryptocurrency market higher following Grayscale's victory in the lawsuit against the SEC, but analysts caution that the victory does not guarantee the approval of a spot Bitcoin ETF.
Bitcoin's volatility has increased as the market reacts to news regarding the United States Securities and Exchange Commission's delay on Bitcoin exchange-traded fund (ETF) applications, with Bloomberg analysts remaining optimistic about the possibility of Bitcoin ETFs being approved in 2023.
The Grayscale Bitcoin ETF decision is important for several reasons, as stated in an opinion piece by Daniel Kuhn from CoinDesk.
The recent court ruling regarding Grayscale Investments has brought the U.S. a step closer to having its first bitcoin exchange traded fund, leading to excitement and speculation in the cryptocurrency industry.
Grayscale Bitcoin Trust, the second-largest BTC entity globally, holds over $16 billion worth of Bitcoin across more than 1,750 addresses, according to blockchain analytics firm Arkham Intelligence.
The discount to net asset value (NAV) for the Grayscale Ethereum Trust (ETHE) has reached its narrowest point in a year following the filing for a spot ether exchange-traded fund (ETF), leading to increased speculation about the conversion of ETHE into an ETF and boosting its shares by 140% this year.
A court victory for Grayscale Bitcoin Trust may lead to its transformation into an exchange-traded fund, potentially providing a profitable opportunity for investors. However, the approval of the US Securities and Exchange Commission (SEC) remains uncertain, despite a recent favorable ruling.
Grayscale, the digital asset manager, offers a range of products beyond its bitcoin trust, including trusts for ether, ether classic, zcash, and horizen, trading at significant discounts or premiums that may be of interest to investors.
Grayscale Investments seeks approval from the SEC to convert its Ethereum investment product into an exchange-traded fund (ETF), aiming to bring Ethereum further into the U.S. regulatory framework.
The first day of trading for futures-based ether exchange-traded funds (ETFs) was lackluster, with low trading volume compared to previous bitcoin ETF launches. Additionally, Grayscale Investments has filed for approval to convert its Ethereum trust into a spot Ethereum ETF, aiming to offer investors regulated access to crypto. Meanwhile, former FTX exchange boss Sam Bankman-Fried is attempting to prevent certain witnesses from testifying in his fraud trial.
