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Since January, GBTC has seen capital outflows of $11.05 billion, according to data from crypto research firm BitMEX Research, even as bitcoin climbed to an all-time high and competitors recorded ...
Grayscale was founded in 2013, launching a bitcoin trust that year. [4] In 2015, the company became a subsidiary of Digital Currency Group. [5] The same year, Grayscale Bitcoin Trust (OTCQX: GBTC) began trading over-the-counter on the OTCQX market, becoming the first publicly traded bitcoin fund in the United States.
"Converting [GBTC to an ETF] would be a windfall for current GBTC holders and immediately bring relief to the overall industry," Sean Farrell, head of digital assets at Fundstrat, told Yahoo Finance.
Digital Currency Group was launched in 2015 by Barry Silbert, the former CEO of SecondMarket, Inc. He began investing in blockchain technology companies in 2013. [3] Shortly after SecondMarket's sale, Silbert formed Digital Currency Group, with Genesis and Grayscale becoming the first of the company's subsidiaries.
Howard Lindzon is a Canadian Author, financial analyst, technical analyst and super angel investor. Lindzon manages a hedge fund, serves as managing partner of the holding company Social Leverage, limited partner at Knight's Bridge Capital Partners, and is the co-founder of StockTwits.
Instead of bringing in fresh capital, spot ETFs are likely to instead draw from capital already invested in Bitcoin-backed vehicles such as the Grayscale Bitcoin Trust (GBTC), Bitcoin futures ETFs ...
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