BitMEX is launching an exchange token, Grayscale’s GBTC discount hits a record high, while our Research...📊 GBTC Discount Reaches Highest Mark Ever GBTC is a financial instrument that functions as a pseudo-ETF...After launching in 2013, GBTC has grown to become the largest BTC fund in existence.

📊 GBTC And ETHE Trade at Record Discount to NAVs Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum...Trust (ETHE) are trading at the largest discount to net asset values ever with GBTC as well as ETHE...While DCG regularly bought back GBTC and ETHE shares, Genesis accepted them as collateral against loans...

Chart of The Day: GBTC Discount Hits New Lows  The GBTC discount deepened late last week to a new low...The steepening discount reflects waning demand for GBTC as better alternatives emerge, namely exchange-traded...GBTC’s price has underperformed bitcoin, returning -42.5%, while bitcoin’s price has fallen by -37.8%...

GBTC in a Tight Spot GBTC discount to BTC spot price took a massive hit, and is down -28% against spot...Since the start of the year, GBTC has plunged -17% compared to BTC which has declined only -9%....Investors of GBTC must go through a 6 month lock-up period before they can sell their shares in secondary...

GBTC Discount Recovers Since the 23rd of February this year, the GBTC premium flipped negative and has...struggled to recover due to reduced market demand for GBTC, this has rendered the previously popular...The latest batch of GBTC unlocks also exacerbated fear among investors that GBTC unlocks would negatively...

Grayscale’s Difficult Fight Grayscale’s GBTC discount has dropped past -20% versus NAV, a record low...GBTC allowed investors to gain exposure to Bitcoin through a traditional investment vehicle....This has made GBTC a tougher sell, as a 6-month lockup on a volatile asset is relatively unappealing.

Swimming Upstream Against GBTC Outflows We’ve also seen a reshuffling of the deck since the new spot...Source: @JSeyff The ETF launches created a ripe opportunity for GBTC investors who wanted out....natural selling point for those who bought GBTC in anticipation of its discount narrowing....Remember, GBTC’s discount to NAV was ~40% back in June.

, the clear standouts with respect to ETF providers continues to be Blackrock (IBIT) and Grayscale (GBTC...consistently attracts the lion’s share of capital looking to allocate to this new asset class, while GBTC...consistently leads in net outflows (due to the structure and fees of the GBTC product).

2 clear standouts when looking at the breakdown of ETF providers — Blackrock (IBIT) and Grayscale (GBTC...consistently attracts the lion’s share of capital looking to allocate to this new asset class, while GBTC...consistently leads in net outflows (due to the structure and fees of the GBTC product).

Coming into the final week of May, ETF flows have been impressive, consistently outpacing outflows, with GBTC...These IBIT flows have frequently offset some of the largest GBTC outflows seen in recent weeks.

...within the crypto ecosystem, then you have probably heard of the Grayscale Bitcoin Trust or GBTC....The fallout from this was quite evident as GBTC had reached its tipping point....Sell spot BTC for USD Buy GBTC with USD Pray GBTC re-pegs at some point In theory, this new trade setup...As of today, the GBTC discount currently sits at -32.3%.

For the first time since ETF approval, we have seen GBTC outflows decrease dramatically, and even turn...This is notable as GBTC has been a constant source of sell pressure since ETF approval.

Last week, for the first time since ETF approval, we had seen GBTC outflows decrease dramatically....We have seen this trend continue again with minimal GBTC outflows on a week over week basis....Again, this is notable as GBTC has been a constant source of sell pressure since ETF approval.

2024 Which, for the record, just made another new high in daily trading volume (and that’s excluding GBTC...

GBTC Slowly Recovers From BITO Launch The discount on Grayscale’s flagship Bitcoin-based product (GBTC...On October 19th, Grayscale Investment LLC and the NYSE filed to convert GBTC into an ETF; Grayscale’s...filing starts a window for the SEC to reject or delay the GBTC conversion application.

...collapse as it relates to contagion, and more specifically, the rumors swirling around the DCG/Genesis/GBTC...

...loan – Genesis owes $900M to Gemini DCG Liq – Grayscale $10B AUM x 2% = $200M x 3x multiple = $600M – GBTC...

GBTC On Fire (Sale) GBTC is currently trading near its steepest discount of the year on the back of...Due to the nature of GBTC, the shares are locked up for 6 months and GBTC holders subject to such lock...Today, Grayscale filed to convert GBTC into a Spot Bitcoin ETF, probably in reaction to competition posed...

Lately, people have been asking why GBTC is trading at a discount and if that is a leading indicator...We saw huge inflows into GBTC in 2020 as BTC’s price took off....The latest announcement of their plans to convert GBTC into an ETF should narrow the discount but that...auction tender offer for GBTC shares.

...result of the Grayscale ETHE redemptions, a dynamic we saw (and continue to see) with the BTC ETFs and GBTC...