Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) completed its share unlockings this week, ending a major talking point both inside and outside crypto. Data from monitoring resource Bybt confirms that as of Thursday, no more unlockings are scheduled. Bitcoin shrugs off another FUD narrative Unlocking events at GBTC have continued throughout 2021 and, at one point, formed the focal point for bearish BTC price predictions. With the equivalent of tens of thousands of BTC released at a time, some feared that selling pressure would explode, sending sentiment tumbling. This never occurred, and as Cointelegraph reported, there was little …

Bitcoin (BTC) is getting compared to late 2020, but this rally in fact has several major differences that make it “not normal.” According to Pete Humiston, manager of Kraken Intelligence Research, Bitcoin in Q3 2021 is a different beast when compared to Q4 2020. GBTC keeps its steep discount Despite going from $29,000 to $48,000 in just one month, Bitcoin is still not seeing a frenzy of interest and buying. Higher price levels have seen solid support, but there is little evidence of the kind of demand that characterized the start of this year or the end of the last. …

New filings with the United States Securities and Exchange Commission reveal that four wealth management companies have acquired shares of Grayscale’s Bitcoin (BTC) investment trust, offering further evidence of institutional adoption of digital assets. As first reported by MacroScope — a Twitter feed devoted to institutional trading and asset management — the firms disclosed their GBTC holdings in new filings for the period ending June 30. Clear Perspective Advisors, an Illinois-based wealth manager, revealed direct ownership of 7,790 GBTC shares on Friday. In an SEC filing today, Clear Perspective Advisors, a wealth management firm in Aurora, Illinois, reported owning 7,790 …

Bitcoin (BTC) and Ether (ETH) exposure has come to one of the world's biggest automated investment firms. In a blog post on July 29, Wealthfront, which has $25 billion in assets, confirmed that it had added two Grayscale funds to its suite of investment options. GBTC buzz returns The recent rise in cryptocurrency prices has kept institutional products such as Grayscale's various funds in the spotlight. Wealthfront, an example of a so-called "robo advisor" in the investments space, will now allow its clients exposure to the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). "Buying cryptocurrency can feel intimidating …

The Grayscale Bitcoin Trust (GBTC) is echoing bullish sentiment in Bitcoin (BTC) as its premium over spot price rises to its highest since May. Data from analytics resource Bybt shows that on Tuesday, the so-called Grayscale premium stood at -5.88%. The last time it was closer to zero was on May 25. GBTC premium slips above -6% That was a week after Bitcoin began a major price drawdown, which this week has finally shown signs of abating. GBTC has been the subject of intense speculation since Bitcoin’s 55% price dip, with unlocking of GBTC shares allegedly capable of adding to …

Bitcoin (BTC) is rebounding despite the ongoing Grayscale Bitcoin Trust (GBTC) unlocking events — and most shares are already released. According to data from tracking resource Bybt, the remaining unlockings combined involve fewer shares than those released on just one day last weekend. Putting an end to GBTC “FUD” Sunday saw around 16,240 BTC worth of GBTC shares end their six-month lock-up period. The largest such release in a single day, the event saw a hefty build-up, with arguments raging over its likely impact on the Bitcoin price. Monday’s BTC price dip was timely when it came to GBTC, fitting …

Billion-dollar investment firm Rothschild Investment Corp quadrupled its exposure to Bitcoin (BTC) since April, new records show. In a filing with the United States Securities and Exchange Commission (SEC) on Saturday, Rothschild confirmed that it now owns 141,405 shares of the Grayscale Bitcoin Trust (GBTC). Rothschild GBTC shares near 150,000 A quiet but nonetheless substantial player among institutions, Rothchild Investment Corp has also invested in Grayscale’s Ether (ETH) equivalent, the Grayscale Ethereum Trust. Its exposure to Bitcoin has increased considerably this year, the filing shows — in April, its GBTC shares totaled 38,346. In BTC terms, with each GBTC share …

Bitcoin (BTC) bears should watch out for a potential blow as the number of margined short positions on the Bitfinex exchange crashes by roughly 25%. The dataset dropped to 11,066 BTC as of 12:20 GMT Saturday, compared to 14,897 BTC at the session's open. Meanwhile, the drop came as a part of a bigger downside move that started on July 15. On the day, the total number of margined short positions had reached 17,053 BTC. In simple terms, BTCUSDSHORTS represents the number of margined bearish positions on Bitfinex, measured in BTC. Traders borrow funds from Bitfinex — their broker — …

A Canada-based Bitcoin fund, operated by 3iQ Corp, has witnessed a dramatic decline in its BTC reserves since June. Literally named the Bitcoin Fund (QBTC:CN), the closed-end investment product, was holding around 24,000 BTC in its vaults in early June. However, as the monthly session progressed, the reserves first dropped to below 16,000 BTC in a dramatic, straight-line decline. Later, another massive withdrawal pushed the Bitcoin Fund's BTC reserves to around 13,000 BTC, according to on-chain data from South Korea-based analytics firm CryptoQuant. However, the withdrawals from the QBTC fund across June coincided with an inflow spike in 3iQ's exchange-traded …

Whether a potential sell-off of shares tied to a multi-billion dollar Bitcoin (BTC) investment fund could crash the cryptocurrency's spot prices has turned into a hotly debated topic among the analysts in the space. Grayscale's premium remains negative for months The argument concerns Grayscale Bitcoin Trust, the world's largest digital assets manager that allows institutional investors to gain indirect exposure in the Bitcoin market through its product, GBTC. Investors purchase GBTC shares directly via Grayscale in daily private placements by paying in either Bitcoin or the U.S. dollar. Nevertheless, investors can sell their GBTC shares only after a six-month lockup …

Bitcoin (BTC) has been ranging from $30,400 to 36,400 for the last 12 days, and it has been difficult to pinpoint the exact reason for investors’ lack of appetite. Some analysts have pointed to the Grayscale Bitcoin Trust (GBTC) unlocking in mid-July finally giving institutional investors a chance to offload their funds, but this is not likely to be the main reason. Meanwhile, industry leaders have suggested that the “crypto regulatory crackdown” taking shape in the United States is severely impacting investors’ sentiment, and this view is especially problematic considering China has recently banned all crypto mining activity in the …

Wall Street investment bank Morgan Stanley has gained exposure to Bitcoin (BTC) through Grayscale, offering further evidence of wider institutional acceptance of digital assets. The Morgan Stanley Europe Opportunity Fund, which invests in established and emerging companies throughout Europe, owned 28,298 shares of the Grayscale Bitcoin Trust, or GBTC, as of April 30, according to a June 28 filing with the United States Securities and Exchange Commission. At a current GBTC price of $29.68, Morgan Stanley’s exposure is worth roughly $840,000. The exposure was worth over $1.3 million at the end of April, according to the filing. Morgan Stanley's Europe …