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Grayscale Bitcoin Trust transferred approximately 4,000 BTC, valued at $183 million, to Coinbase Prime deposit addresses.  This was revealed from the latest data of Arkham Intelligence. Grayscale’s spot Bitcoin ETF, known for its comparatively high fee structure at 1.5%, may be witnessing a shift as investors explore options in response to the SEC’s recent approval of several spot Bitcoin ETFs. Other ETFs, managed by companies like BlackRock, VanEck, ARK 21Shares, and Bitwise, offer more competitive fees, ranging from as low as 0.2% to 1.5%, with some even introducing introductory waivers​​​​. You might also like: BlackRock’s Larry Fink points to value in Ethereum ETFs, crypto asset class Grayscale’s transfer history to Coinbase addresses | Source: Arkham The Bitcoin market itself is undergoing notable changes. After the SEC’s approval of various Bitcoin spot ETFs, the price of Bitcoin reached a peak of approximately $49,000, only to fall t...

GBTC shares trading at a lower implied value to BTC price may soon be a thing of the past, a new prediction says. Bitcoin (BTC) investment vehicle, the Grayscale Bitcoin Trust (GBTC) could erase its BTC price “ discount ” in 2024. In an X post on Aug. 30, monitoring resource CoinGlass predicted that the so-called “GBTC premium” would soon return. GBTC price: From "elevator to hell" to "stairway to heaven?" Grayscale netting a court victory over United States regulators on Aug. 29 provided an instant remedy to what was flagging GBTC performance. The fund, which contains over 600,000 BTC, has traded at a discount to the Bitcoin spot price, also called net asset value (NAV), since February 2021. What was once the “GBTC premium” has thus been negative for over two-and-a-half years, but that could soon change. News that the U.S. Securities and Exchange Commission (SEC) must consider GBTC’s conversion to a Bitcoin spot price exchange-traded fund (ETF) on the same terms...

Crypto-related stocks, ETFs and tokens have all surged in price so far in 2023 despite experts expecting the Federal Reserve to continue hiking interest rates. The share price of cryptocurrency exchange Coinbase has surged by 69% since its all time lows and other crypto-related stocks including business intelligence firm MicroStrategy have recorded similar jumps with green candles all around since the start of 2023. The share price of Coinbase fell as low as $31.95 on Jan. 6, before shooting up to $54.14 by the close of trading on Jan. 17. Coinbase’s share price for the last month. Source: Yahoo Finance The rising share price will likely be accompanied by a huge sigh of relief for Coinbase executives after a challenging 2022 saw it cut 20% of its workforce and decide to wind down its Japanese operations. Despite the surge , COIN remains more than 84% below its all time high. Other crypto-related stocks such as MicroStrategy and digital payments company Block Inc. have also posted stro...