Bear: If the #premium gets sold back down, institutional capital might flow into #GBTC instead of spot #BTC. 

#GBTC Discount Collapses Due to Grayscale’s #Unexpected Court Success

#GBTC approval could return a ‘#couple billion dollars’ to investors: Grayscale CEO

Grayscale #Crypto Firm in Hot Water Again as New #GBTC Lawsuit Filed by Osprey – Here's What You Need to Know

Grayscale #Crypto Firm in Hot Water Again as New #GBTC Lawsuit Filed by Osprey – Here's What You Need to Know

Grayscale #Crypto Firm in Hot Water Again as New #GBTC Lawsuit Filed by Osprey – Here's What You Need to Know

Grayscale #Crypto Firm in Hot Water Again as New #GBTC Lawsuit Filed by Osprey – Here's What You Need to Know

Grayscale #Crypto Firm in Hot Water Again as New #GBTC Lawsuit Filed by Osprey – Here's What You Need to Know

Grayscale #Crypto Firm in Hot Water Again as New #GBTC Lawsuit Filed by Osprey – Here's What You Need to Know

Grayscale #Crypto Firm in Hot Water Again as New #GBTC Lawsuit Filed by Osprey – Here's What You Need to Know

Grayscale #Crypto Firm in Hot Water Again as New #GBTC Lawsuit Filed by Osprey – Here's What You Need to Know

Grayscale #Crypto Firm in Hot Water Again as New #GBTC Lawsuit Filed by Osprey – Here's What You Need to Know

Osprey sues Grayscale for misrepresenting likelihood of #GBTC #ETF approval

Osprey sues #Grayscale for misrepresenting likelihood of #GBTC ETF approva

Osprey sues #Grayscale for misrepresenting likelihood of #GBTC ETF approval

#Osprey sues Grayscale for misrepresenting likelihood of #GBTC ETF approval

The rival asset manager #Osprey says operators of #GBTC knew it was never likely to become an #ETF, but marketed it on this basis anyway. Decrypt

Osprey sues #Grayscale for misrepresenting likelihood of #GBTC #ETF approval

Osprey sues Grayscale for misrepresenting likelihood of #GBTC #ETF approval

Osprey sues Grayscale for misrepresenting likelihood of #GBTC #ETF approval

Cathie Wood: Ark dumps 500K #GBTC shares, adds Coinbase stock as #Bitcoin recovers 40%

Cathie Wood: Ark dumps 500K #GBTC shares, adds #Coinbase stock as #Bitcoin recovers 40%

Cathie Wood: Ark dumps 500K #GBTC shares, adds #Coinbase stock as #Bitcoin recovers 40%

Grayscale’s plans to convert its Grayscale #Bitcoin Trust (#GBTC) to a spot ETF.

Cathie Wood's #ARKW Holdings is Bullish on Coinbase But Hawkish on Grayscale's #GBTC

Ark's #GBTC weight in the portfolio actually #increased despite the fund selling 500,000 shares in the past month.

#Cathie Wood: Ark dumps 500K #GBTC shares, adds #Coinbase stock as Bitcoin recovers 40%

We recommend #GBTC…as a way to play #Bitcoin because it has a ‘potential NAV kicker rebate.

On the daily chart, #GBTC has reclaimed its 50-day exponential moving average (50-day #EMA; the red wave in the chart below) near $9.68 as support.

Any bad news, be it Cathie Wood selling out of #GBTC or #DCG going bankrupt.

Similarly, Greenery Financial, an #investment strategy firm, confirmed that it had shifted its #GBTC.

Ark's selling of #GBTC shares in the past weeks coincided with accumulation of #Coinbase (COIN) shares.

Nonetheless, as of Jan. 23, #GBTC's share weight in Ark's #portfolio has actually increased to 0.52% compared to its November 2022 low of 0.35%.

As #Cointelegraph reported, an approval from the SEC could reset #GBTC's discount to zero.

Interestingly, the share #price rebound coincided with a reduction in ARKW's #GBTC holdings by 500,000 shares, suggesting profit taking in the short term.

The recovery in January also helped reduce the #GBTC "discount" from nearly 50% to 40%, according to #YCharts.

#GBTC price, of course, recovered alongside #Bitcoin, rising roughly 40% from its November lows.

At the time, #GBTC was #trading in the $7.46-$9.48 range versus $12.25 in January 2023.

Ark Invest added 450,272 #GBTC shares worth $4.5 million to its ARK Next #Generation Internet ETF (ARKW) in November 2022.

Ark's #GBTC weight in the #portfolio actually increased despite the fund selling 500,000 shares in the past month.