Greyscale investments file a SEC registration form for a regulated Bitcoin fund

Rajan Dhall, MSTA FX Daily

Grayscale Investments, who hold roughly USD 2.7 billion in assets, stated on Tuesday they have filed with the Securities and Exchange Commission a registration statement on Form 10 for its bitcoin fund, a move aimed at broadening its investor base.

The fund is called Grayscale Bitcoin Trust has assets of about USD 2.175 billion, the company said, and it trades on OTCQX, an over-the-counter marketplace.

We filed a FORM 10 and the SEC can of course have comments, or questions, or they can ask us to expand on certain aspects of the document, but if they do not, it’s typically goes effective after 60 days from the time is filed said Michael Sonnenshein, Grayscale managing director

In regards for the reason for doing this Sonnenshein said:

This would open up GBTC to a larger pool of investors who would otherwise not be allowed to trade or invest in products that are not SEC-reporting

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

Ripple and Stellar outlook: XRP stalls at key resistance, XLM rally loses steam

Ripple and Stellar are trading under pressure as bulls lose steam. XRP faces rejection near key resistance, while XLM continues its pullback so far this week. Despite the ongoing correction, mixed on-chain and derivatives metrics suggest traders remain cautiously optimistic for these altcoins. Derivatives data shows a mixed outlook.

Crypto Market Overview: Bitcoin loses steam around $63,000 – DeFi tokens rally

Bitcoin sustains above $63,000 at press time on Tuesday, upholding a streak of six consecutive days of gains despite Strategy selling 3,588 BTC on Monday. The broader crypto market sentiment holds while DeFi tokens such as DeXe and LayerZero emerge as top gainers over the last 24 hours.

Bitcoin edges above $64K as easing sell pressure, improving ETF flows support recovery

Bitcoin (BTC) began July on stronger footing after rebounding above $64,000 following improving derivatives positioning and signs of market stabilization. QCP analysts noted that Bitcoin's early-July rebound aligns with long-term seasonal trends. Historically, July has been one of Bitcoin's strongest months, averaging gains of about 7.5%.

Ethereum Price Forecast: BitMine expands ETH accumulation amid crypto treasury pressure

Ethereum (ETH) treasury firm BitMine Immersion Technologies scooped 42,197 ETH last week, extending its weekly accumulation streak of the top altcoin. The purchase has pushed the company's total ETH holdings to 5.74 million ETH worth roughly $10.27 billion at the time of writing.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.