Everything you wanted to know about Grayscale BTC Trust but were afraid to ask! - page 34.

DaRude

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In order to dump coins one must have coins

Quote from: fillippone on April 22, 2021, 02:16:17 PM

Quote from: DaRude on April 22, 2021, 02:03:48 PM

And here we have the pinnacle of shitty ~~journalism~~ blogging
"Grayscale Adds $283.3 Million Of Bitcoin To GBTC"
https://bitcoinmagazine.com/markets/grayscale-adds-283-million-to-gbtc

In reality GBTC AUM grew by $283MM due to BTC price

Oh, great, thanks for posting it, I could never have done that by myself.
I read that article half an hour ago, and I just wanted to kill myself.

There is a German word for the feeling for the embarrassment for what another person did: fremdschämen

https://en.wikipedia.org/wiki/Vicarious_embarrassment

Looks like they're watching us, in any case they made it a bit better now. GBTC has added to AUM by doing absolutely nothing, tomorrows news, GBTC lost X millions from AUM by once again letting it's underlying asset trade freely on the market...

Quote

Correction, April 22, 2021: This article originally stated that Grayscale had added $283.3 million in bitcoin to the Grayscale Bitcoin Investment Trust. It has been corrected to reflect that Grayscale added $283.3 million in assets under management.

fillippone

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Fully fledged Merit Cycler - Golden Feather 22-23

Quote from: DaRude on April 22, 2021, 02:03:48 PM

And here we have the pinnacle of shitty ~~journalism~~ blogging
"Grayscale Adds $283.3 Million Of Bitcoin To GBTC"
https://bitcoinmagazine.com/markets/grayscale-adds-283-million-to-gbtc

In reality GBTC AUM grew by $283MM due to BTC price

Oh, great, thanks for posting it, I could never have done that by myself.
I read that article half an hour ago, and I just wanted to kill myself.

There is a German word for the feeling for the embarrassment for what another person did: fremdschämen

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: DaRude on April 16, 2021, 09:04:30 PM

Quote from: fillippone on April 16, 2021, 04:48:34 AM

Quote from: Charles-Tim on April 15, 2021, 07:18:50 PM

Grayscale Assets under management (AUM) is now worth over $50 billion.
<....>

Again, I find these announcement pretty annoying.
Their AUM is growing not because they are collecting new funds, so vaguely relatable to some merit by them. Their AUM is now growing only because Bitcoin is growing.
Which merit they can have for this?
So if they have no merits for this, why sending out those blatant press releases?

Yep all of these "news" articles about GBTC AUM can be replaced by: (BTC/share) * (outstanding shares) * (BTC price)
BTC/share = is a known 0,00094462 (and drops 2%/yearly due to fees)
outstanding shares = 692.370.100 (no new shares are currently issued and they cannot be redeemed)
so the only unknown is the BTC price. Input current BTC price and all these AUM articles become useless

And here we have the pinnacle of shitty ~~journalism~~ blogging
"Grayscale Adds $283.3 Million Of Bitcoin To GBTC"
https://bitcoinmagazine.com/markets/grayscale-adds-283-million-to-gbtc

In reality GBTC AUM grew by $283MM due to BTC price

fauzan123

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Merit: 103

Quote from: fillippone on April 16, 2021, 11:49:45 AM

Not so sure why they selected shitcoins like FIL thou...

I think, Grayscale may continue to keep an eye out on Filecoin is because of the nature of the protocol namely, that data is becoming the most valuable commodity in tech today.

The end goal of this project is to provide a cheaper and more efficient method by which to store sensitive files. The idea builds on top of the major Web3 movement, a movement whose philosophy is to undercut big tech’s overwhelming control over user data to give back data ownership to the people.

mcun2000

jr. member

Activity: 32

Merit: 29

Quote from: fillippone on April 16, 2021, 11:49:45 AM

You can check the whole list on the spreadsheet

You will see there are many other notable variations besides Rothschild Investment.

[moderator's note: consecutive posts merged]

Love the worksheet. Thanks for the work and contribution. Much appreciated.

DaRude

legendary

Activity: 2833

Merit: 1851

In order to dump coins one must have coins

Quote from: fillippone on April 16, 2021, 04:48:34 AM

Quote from: Charles-Tim on April 15, 2021, 07:18:50 PM

Grayscale Assets under management (AUM) is now worth over $50 billion.
<....>

Again, I find these announcement pretty annoying.
Their AUM is growing not because they are collecting new funds, so vaguely relatable to some merit by them. Their AUM is now growing only because Bitcoin is growing.
Which merit they can have for this?
So if they have no merits for this, why sending out those blatant press releases?

Yep all of these "news" articles about GBTC AUM can be replaced by: (BTC/share) * (outstanding shares) * (BTC price)
BTC/share = is a known 0,00094462 (and drops 2%/yearly due to fees)
outstanding shares = 692.370.100 (no new shares are currently issued and they cannot be redeemed)
so the only unknown is the BTC price. Input current BTC price and all these AUM articles become useless

fillippone

legendary

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Fully fledged Merit Cycler - Golden Feather 22-23

Quote from: Husires on April 16, 2021, 11:32:01 AM

Does anyone know why Grayscale have too many altcoins trust and not have dogecoin trust or any good altcoin trust? them choose of altcoins was strange they add some random unknown altcoins and ignore some good one that may bring interset to invest or have long term road map . i mean why add Zcash, filecoin, Ethereum classic, liverpeer, horizen and not some good altcoins

I have to check, but I think they have rules for the market cap and liquidity to be necessarily met for a coin to be considered for inclusion.
Then there is a sort of marketing decision to pick the right coin amongst the ones that were previously selected.
I fear that Dogecoin doesn't pass the cut in this second round, due to the "meme" nature of their price movements.

Not so sure why they selected shitcoins like FIL thou...

Quote from: Daltonik on April 16, 2021, 09:15:06 AM

<...>

Very nice.
I wanted to update the Holder part on the spreadsheet, but I have been lazy.
Following your post, I finally decided to update it (that requires a little bit of manual work and a collaboration of a spy with the right sources).

Here the complete update btw:

You can check the whole list on the spreadsheet

You will see there are many other notable variations besides Rothschild Investment.

[moderator's note: consecutive posts merged]

Husires

legendary

Activity: 1596

Merit: 1288

Does anyone know why Grayscale have too many altcoins trust and not have dogecoin trust or any good altcoin trust? them choose of altcoins was strange they add some random unknown altcoins and ignore some good one that may bring interset to invest or have long term road map . i mean why add Zcash, filecoin, Ethereum classic, liverpeer, horizen and not some good altcoins

Daltonik

legendary

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Merit: 1504

Financial Corporation Rothschild Investment has increased its position in the Grayscale Bitcoin Trust (GBTC) and acquired shares of the trust based on Ethereum. This is stated in the application filed by the company for the US SEC https://www.sec.gov/edgar/search/#/q=bitcoin&dateRange=custom&entityName=Rothschild&startdt=2021-04-15&enddt=2021-04-15

Quote from: https://www.sec.gov/edgar/search/#/q=bitcoin&dateRange=custom&entityName=Rothschild&startdt=2021-04-15&enddt=2021-04-15

Thus, the corporation now owns 38,346 shares of GBTC. In January 2021, there were 30,454 of them. The application also indicates a position on the Grayscale Ethereum Trust — 265,302 shares.

Quote from: https://twitter.com/MacroScope17/status/1382786555547377669

Charles-Tim

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Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

<...>

This thread is solely about Grayscale, any other thing not related to it will eventually be deleted. This is just a correction, if you want to provide service or need people to work for you, you can create new thread on service board.

Charles-Tim

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Leading Crypto Sports Betting & Casino Platform

Quote from: fillippone on April 16, 2021, 04:48:34 AM

Again, I find these announcement pretty annoying.
Their AUM is growing not because they are collecting new funds, so vaguely relatable to some merit by them. Their AUM is now growing only because Bitcoin is growing.
Which merit they can have for this?
So if they have no merits for this, why sending out those blatant press releases?

You are right, Grayscale is not having inflow for now as they are not accepting people to invest which is there normal routine or something. But, as bitcoin is increasing in price, the AUM will also increase, the recent increase is truly due to what you commented, but I think it should be added as the AUM is estimated in dollars. What I think is wrong is that it should be added to the news article that the increase is due to the the cryptocurrencies used for the trust funds which are increasing in price. But there can be many mistake in news. I even wanted to add it, but I already saw it in your post just above mine to avoid repetition.

Quote from: fillippone on April 16, 2021, 04:48:34 AM

So if they have no merits for this, why sending out those blatant press releases?

Pretty much to promote their company, but the praise to the value of bitcoin and other altcoins used as trust funds that is increasing. Bitcoin and those other crypto valuation is a big progress for Grayscale.

fillippone

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Quote from: Charles-Tim on April 15, 2021, 07:18:50 PM

Grayscale Assets under management (AUM) is now worth over $50 billion.
<....>

Again, I find these announcement pretty annoying.
Their AUM is growing not because they are collecting new funds, so vaguely relatable to some merit by them. Their AUM is now growing only because Bitcoin is growing.
Which merit they can have for this?
So if they have no merits for this, why sending out those blatant press releases?

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

Grayscale Assets under management (AUM) is now worth over $50 billion.

https://twitter.com/Grayscale/status/1382434970304712712?s=20

Quote from: author=https://cointelegraph.com/news/grayscale-tops-50-billion-will-soon-pass-world-s-largest-commodity-etf

Grayscale tops $50 billion: ‘Will soon pass world’s largest commodity ETF’. Grayscale continues to grow, passing $50 billion. That’s equivalent to the world’s second-largest commodity ETF. Major United States asset manager Grayscale has just surpassed $50 billion in cryptocurrency assets under management for the first time. Grayscale’s AUM is creeping ever closer to the $57-billion holdings of the largest commodity ETF. The company has plans to convert into an ETF when regulations allow. If the ETF had been approved already, Grayscale would be the second-largest commodity ETF behind SPDR Gold Shares. GLD is a physically backed gold exchange-traded fund with listings on stock exchanges in the U.S., Mexico, Singapore, Japan and Hong Kong.

fillippone

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Quote from: Daltonik on April 13, 2021, 07:06:54 AM

Against the background of the growth in the value of bitcoin, the accumulation in bitcoin Grayscale continues to increase

NO! Please be more attentive to important details.
Grayscale has not been accumulating any bitcoin recently:

The increase in AUM, measured in USD, is due only to BTCUSD appreciation. AUM measured in bitcoin is stable, or actually decreasing because of their management fees.

galestorm

sr. member

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Merit: 251

Futurov

A very detailed post on grayscale. I was curious at first, simce they claim to be the first investment vehicle of its kind to report financials regularly to the U.S. Securities and Exchange Commission (SEC). The Grayscale Bitcoin Trust offers investors the opportunity to gain exposure to the leading cryptocurrency via an open-ended private trust that holds in excess of 649,130 BTC as of Feb 2021 – equating to almost 3.1% of bitcoin’s current circulating supply. GBTC stock has posted gains far in excess of the S&P 500's in 2020. However, it is now well off its highs for the year. Investors should study the stock market and wait for it to pass its latest buy point.

Daltonik

legendary

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Against the background of the growth in the value of bitcoin, the accumulation in bitcoin Grayscale continues to increase, which has grown since the last update, according to the report, by $1.6 billion and reached the amount of $47.7 billion.

Quote from: https://twitter.com/Grayscale/status/1381710880581185539

Daltonik

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Grayscale Investments and TIME magazine confirm cooperation in the field of cryptocurrency content so TIME joins Tesla to keep bitcoin on its balance sheet, no further information about the partnership with TIME was received. https://twitter.com/Sonnenshein/status/1381662798585946112

Quote from: https://twitter.com/Sonnenshein/status/1381662798585946112

fillippone

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Not everyone was actually satisfied thou of the negative premium:

Grayscale Bitcoin Trust Assailed by Investor Over Discount

Quote

An activist family office that owns shares in Grayscale Bitcoin Trust is demanding a tender offer to boost prices that had fallen about 8% below the value of the digital assets it holds.

As of March 31, the share price represented a $3.1 billion loss to shareholders compared with the Bitcoin it holds, according to a letter that Marlton LLC sent Tuesday to the board of Grayscale Investments LLC, the trust’s parent. Marlton declined to say how many trust shares it holds.

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Marlton said Grayscale wasn’t doing enough to increase shareholder value. Digital Currency Group Inc., which controls Grayscale Investments, authorized the purchase of as much as $250 million of trust shares last month in an effort to buoy prices. Grayscale Investments said on Monday that it intends to reapply to the Securities and Exchange Commission to convert the trust into a Bitcoin exchange-traded fund, a process it abandoned in 2017.

If I were a family hiring a family office to buy GBTC shares I would be ashamed of my gullibility.
Pretending the management to do something in favour of someone as stupid as buying a 2% passive tracker fund.
Sadly for this family office, there is nothing the management can do, not I think it would be within their management to pick winners and losers within their shareholder base.

fillippone

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As I have been busy with IRL stuff, it's nice to see that someone else kept the thread updated with latest news.

Regarding the conversion I would like to signal a recap by the obvious Coindesk:

Grayscale ETF Announcement May Shore Up GBTC Discount, Analysts Say

Quote

Grayscale Bitcoin Trust shareholders now know they’re not going to be left behind in the bitcoin (BTC, -1.4%) exchange-traded fund (ETF) race, and that may help alleviate the discount at which GBTC has been trading for over a month, some analysts say.

On Monday, Grayscale, which is owned by CoinDesk parent company Digital Currency Group, announced it would convert GBTC into an exchange-traded fund when the U.S. regulatory environment warms to bitcoin ETFs.

The conversion would mean GBTC shareholders would no longer have to put up with a six-month lockup or 2% annual management fee. The news could bring GBTC more in line with the net asset value (NAV) of bitcoin, or at the very least put a limit on how steep the discount might go, said James Seyffart, ETF research analyst at Bloomberg Intelligence. (Currently, GBTC is trading at -5.64% to NAV, according to data from CoinDesk subsidiary TradeBlock.)

Of course, Coindesk has to show all their support toward GBTC, being part of the same group.

My guess on this matter is that of course, Grayscale is converting to an ETF, but it will happen just before the SEC authorizes the first of such vehicles quoted on markets. Grayscale has the obvious incentive of being the first to be quoted, just to avoid a dramatic outflow from the fund, but also to try staying in the status quo as long as possible to maximise the fees.
So my guess is that they will be leveraging a good part of their massive income (it's 35 bitcoin daily, we are talking about) to delay as much as possible the ETF approval.

Oshosondy

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Gamble responsibly

Quote from: JayJuanGee on April 05, 2021, 12:38:04 PM

No matter what happens, it seems, US Govt is likely uncomfortable with this BTC asset class that is continuing to grow into some kind of asset class that cannot be kept off the radar.

I do not think US government is uncomfortable with BTC asset class. Grayscale seek for Bitcoin ETF in 2016 but withdrew because of the US government stance about it. In 2016, bitcoin marketcap was within $300 million to around $2 billion and highly volatile, bitcoin is not as strong as it is now as at then. If US government turned down bitcoin ETF at the time, it should not be a surprise.

But with the marketcap of over a trillion, Grayscale that withdrew from what they wanted (bitcoin ETF) in 2016 is now being positive about it. Bitcoin having a marketcap of over 1 trillion is a certainty that the first bitcoin ETF in USA will soon be in existence. According to the news I have read about this, Grayscale are so positive about this, which I believe it is as a result of positive feedback from US government.

Total AUM: $46.1 billion

Topic: Everything you wanted to know about Grayscale BTC Trust but were afraid to ask! - page 34. (Read 17106 times)