Grayscale Seeks Bitcoin ETF Launch, Lower Fees Could Attract Investors but Also Prompt Outflows from Existing Product
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Grayscale seeks to quick-launch a Bitcoin ETF via an “uplist,” moving from an OTC exchange to the NYSE. Success could help it dominate a huge new crypto ETF market.
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Grayscale’s ETF fee will likely be lower than its current 2% but higher than ARK’s 0.8% due to tax implications for investors switching products.
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Some GBTC investors may dump their shares once the ETF launches, taking crypto profits to invest elsewhere. JPMorgan expects $2.7B in outflows.
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A judge has denied Binance’s former CEO’s request to return to the UAE ahead of a February sentencing.
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Prices of altcoins like SUI and Optimism fell sharply in advance of token unlock events that will flood the market with new supply.