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Grayscale Bitcoin Trust Shares Rally to a One-Year High, Discount Dips to 30%

Grayscale Bitcoin Trust’s (GBTC) share price surged to a one-year high on Tuesday as a report about investment asset manager Fidelity Investments preparing to follow BlackRock’s application for a spot bitcoin (BTC) exchange-traded fund (ETF) with its own, renewed optimism about converting the trust into an ETF. GBTC closed at $19.47 Tuesday afternoon, gaining 7.1% […]

Prime Trust Has ‘Shortfall of Customer Funds,’ Nevada Regulator Says

Crypto custody firm Prime Trust has “a shortfall in customer funds” and was unable to meet all withdrawal requests this month, the Nevada Department of Business and Industry said Thursday. The Department’s Financial Institutions Division (FID), which oversees state-regulated trust companies, ordered Prime Trust to cease all activities which violate Nevada regulations, alleging that the […]

Bitcoin Bobbles, Then Returns to Perch Above $30.1K as Investors Weigh ETF Prospects, Macroeconomic Data

After surging for two days on spot bitcoin ETF euphoria, the price of bitcoin (BTC), the largest cryptocurrency by market capitalization, stalled. BTC was recently trading at about $30,180, roughly where it stood 24 hours ago when investor optimism spiked after three financial services powerhouses, including BlackRock – the world’s largest asset manager – applied […]

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