The Bitcoin Investment Trust, which began trading on May 4, is believed to boost the acceptance of digital currency by investors.
Cardano and SUI now feature in the Grayscale Smart Contract Fund following its latest rebalancing.
The US SEC has officially confirmed the XRP ETF application from Grayscale Investments
Grayscale’s business model that saw it hike fees on its crypto ETF products has proven to be profitable.
The Grayscale Ethereum Mini Trust (ETH) is now the most competitive in annual sponsor fees, thus triggering a possible fee war ahead.
On July 17, BlackRock’s Bitcoin ETF, known as IBIT, recorded the highest inflow in a single day, bringing in a total of $110.37 million.
The US spot Bitcoin ETFs registered a net outflow of about $65 million on Monday, coinciding with the crypto selloff in the past 24 hours.
GBTC’s high management fees at 1.5% continue to hurt Grayscale as revenue of the firm remained flat in Q1 amid high redemptions from Bitcoin ETF.
GBTC’s decline coincides with a recent downturn in the crypto market, resulting in Bitcoin price falling drastically.
Grayscale CEO Sonnenshein ask the SEC to approve options for GBTC, adding that the Commission has already approved same for futures ETFs.
An analyst from Grayscale argued that the crypto market is anticipating Ethereum’s transaction throughput and cost reduction through the Dencun upgrade more, making it more competitive with other layer-1 blockchains.
Bitcoin crossed $52,000 and seems ready for more increase as spot ETFs receive more large inflows, with BlackRock and Fidelity leading.
The IBIT ETF from BlackRock is now the fifth-largest of all US ETFs by inflows, despite heavy outflows from Grayscale’s product.
According to data from BitMEX Research, GBTC witnessed a decrease in outflows, with $394.1 million on January 25, down from $429.3 million on Wednesday and $515.3 million on Tuesday.
The JPMorgan analysts highlighted BlackRock and Fidelity Investment’s spot Bitcoin ETFs as emerging competitors to GBTC.
The introduction of spot Bitcoin ETFs triggered a massive retracement in the overall crypto market.