BlackRock's spot bitcoin ETF, iShares Bitcoin Trust (IBIT), has surpassed Grayscale to become the world's largest bitcoin fund with over $20 billion in assets.
Spot bitcoin ETFs record $107.91M in inflows for a 9th straight day, the longest run since mid-March, as demand for the successful new products continues.
Despite $824 million of net inflows since Spot ETF approval, bitcoin fell 19% in part from $4.39 billion bleeding out of GBTC. This is good for Bitcoin.
Grayscale faces a lawsuit for allegedly mismanaging their Grayscale Bitcoin Trust as well as conflicts of interest. Shareholders are invited to join the case.
An interesting saga is developing for Digital Currency Group and its Grayscale Bitcoin Trust with accusations of fraud coming from the co-founder of Gemini.
Valkyrie Investments has laid out a proposal to become the new sponsor and manager of Grayscale’s troubled bitcoin trust (GBTC) and fix its large discount.
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