news

bitcoin

1 X bitcoin bitcoin =

Monday

19 April 2021

Another Hedge Fund Gets Crypto Exposure via Grayscale's GBTC – Finance Bitcoin News

Another Hedge Fund Gets Crypto Exposure via Grayscale's GBTC – Finance Bitcoin News


smart summary beta

The report also quotes one of the two unnamed sources suggesting that Millennium, which has $48 billion worth of assets under management (AUM), could have been drawn to the crypto asset by the lingering discount on GBTC shares.

The fact that Millennium having skin in the GBTC game, to begin with, is likely another bullish indicator for bitcoin as an asset class.

In the meantime, the same report suggests that Millenium might just be “the largest asset manager yet to emerge in the crowded GBTC trade, likely a bullish indicator for bitcoin itself.” Yet despite this bullish signal, Grayscale recently revealed its plan to eventually convert “the trust into a bitcoin exchange-traded fund (ETF).” An ETF enables the direct holding of BTC and this provides more favorable liquidity terms than a trust structure.

Goto Full Article

bitcoin bitcoin price

$56209.00

24h

Live Average

bitcoin

News Article Sentiment

negative

Score (-0.2)

Article Metadata

author

site

bitcoin.com

categories

Market data feeds provided by cryptocompare.com
bitsmart 2021