Shapeshift CEO Erik Voorhees has drawn a metaphorical line in the financial sand, stating that every asset manager should understand Bitcoin now based on its astonishing rate of return. Voorhees made the comments while retweeting data shared by analytics platform Messari co-founder Dan McArdle that shows Bitcoin has dramatically outperformed everything over the last decade. While gold has returned a 32% profit and the S&P 500 has tripled investors’ money, Bitcoin has posted an incredible 7,837,884% gain in ten years. Looking across its 10-year life, Voorhees believes Bitcoin is “vastly superior to any other investment.” He said that: “One could …

The demand for the Grayscale Bitcoin Trust (GBTC) continues to rise with its premium surpassing 30% on Dec. 3. This indicates that Bitcoin (BTC) is seeing increasing institutional demand as its price consolidates above $19,000. The Grayscale Bitcoin Trust is an institutional vehicle that is tradable in the United States through over-the-counter markets. Accredited and institutional investors typically use the trust to obtain exposure to BTC with their brokerage accounts. Why is the Grayscale Bitcoin Trust premium rising? The Grayscale Bitcoin Trust is the go-to institutional vehicle in the U.S. for BTC due to the lack of a Bitcoin exchange-traded …

Blackrock CEO Larry Fink says Bitcoin (BTC) is on his company’s radar following the cryptocurrency’s rapid appreciation over the past few months. Speaking Tuesday at the Council on Foreign Relations alongside former Bank of England governor Mark Carney, Fink reportedly said: “Bitcoin has caught the attention and the imagination of many people. Still untested, pretty small relative to other markets.” He then added: “Can it evolve into a global market? Possibly.” Fink isn’t the only BlackRock executive touting Bitcoin’s potential value. Last month, the company's chief investment officer, Rick Rieder, told CNBC that not only is Bitcoin “here to stay” …

Digital asset manager Grayscale has announced a share split for its Ethereum Trust — a move that could make the fund more attractive to individual investors. In an official press release, Grayscale announced Wednesday that the split will be implemented on Dec. 17, with shareholders of record receiving eight additional shares for each one they currently own. To be eligible for the split, investors need to be on the shareholder record by Dec. 14. Grayscale says the fund currently has 29,502,100 shares at a value of 0.09284789 Ether (ETH) per share. Following the split, the trust will have 265,518,900 shares …

Digital asset manager Grayscale is bringing back its controversial "drop gold" campaign just in time for the potential Bitcoin (BTC) bull market. CEO Barry Silbert tweeted Tuesday that the 30-second advertisement will be “running on major networks all over the country.” The commercial implores investors to “leave the pack behind” by dropping gold and adding digital assets like Bitcoin to their portfolio. “In a digital world, gold shouldn’t weigh down your portfolio,” the commercial says, adding: “Digital currencies like Bitcoin are the future. They’re secure, borderless and, unlike gold, they actually have utility.” Grayscale launched its #dropgold campaign in May …

An SEC filing on Friday indicates that the next Wall Street institution to take a public position in Bitcoin may also be among the largest yet: the $275 billion financial services firm Guggenheim Partners. The Guggenheim filing allows the Macro Opportunities fund to purchase GBTC, a publicly-traded Bitcoin investment vehicle from Grayscale, at an indeterminate point in the future. “The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (“GBTC”),” the filing reads. According to independent ratings firm Morningstar, the Guggenheim Macro Opportunities fund …

Bitcoin (BTC) price dropped below the $18,000 support level on Nov. 22. This comes after BTC continuously saw high over-the-counter (OTC) and institutional volume throughout November. Data suggests that the growing institutional demand was likely one of the main catalysts behind the BTC price rally to $18,965. According to the data from Skew, Grayscale Bitcoin Trust’s volume on OTC Markets increased significantly in the fourth quarter. OTC Markets is a securities exchange in the U.S. that allows institutional and accredited investors to purchase various securities. The Grayscale Bitcoin Trust trades on OTC Markets, similar to an exchange-traded fund (ETF). This …

As Bitcoin price rises toward $18,000 and traders attempt to secure a new all-time high, the surge of institutional investors jumping on the Bitcoin (BTC) bandwagon continues. This time, institutional and retail investors are both keen to accumulate Bitcoin, and data from crypto derivatives markets shows institutional investors are driving Bitcoin volumes to new highs. According to research from Grayscale Investments, a digital asset management company that currently holds over $9.8 billion in assets under management, the coronavirus pandemic may be a primary driver of Bitcoin’s current rally. According to the company’s yearly survey, 83% of all Bitcoin investors started …

Cryptocurrency fund manager Grayscale Investments now holds more than 500,000 BTC in its Bitcoin Trust. According to a Nov. 16 post, Grayscale now holds to $8.35 billion worth of Bitcoin — equating to 2.69% of Bitcoin’s (BTC) outstanding supply and market cap. But with Chainalysis estimating that around 3.7 million BTC have been lost, Grayscale may actually now be in possession of 3.37% of Bitcoin’s remaining circulating supply Appealing to institutional investors who are prepared to pay a premium to buy and hold cryptocurrency through the security of a regulated fund, shares in the Grayscale Bitcoin Trust currently represent $15.62 …

From Oct. 15 to Nov. 15, Bitcoin (BTC) exchange outflows dropped from 2.5 million to 2.355 million, the lowest levels since August 2018. Approximately 145,000 BTC, worth $2.35 billion at a price point of $16,200, moved out of exchanges. In the same period, Bitcoin miners mined around 27,000 BTC, equivalent to around $437.4 million. Since miners have been mining 900 BTC daily after the May 11 halving, 900 BTC times 30 days equals 27,000 BTC. This aggressive accumulation trend seen in the Bitcoin market shows that investors anticipate a prolonged post-halving uptrend. Why declining Bitcoin reserves is bullish A block …

The value of assets under management for crypto fund manager Grayscale Investments’ Bitcoin Cash Trust has fallen $1.6 million following the announcement that the crypto asset would be forking on Nov. 15. According to data from Coin Dance, the Bitcoin Cash (BCH) network has now split into two blockchains. Currently, miner action appears to be favoring the community-driven Bitcoin Cash Node, or BCHN. Crypto exchange Binance’s pool was responsible for mining block 661,647 — the last common block before the fork. At the time of publication, miners have mined roughly 27 blocks for BCHN and none for Bitcoin ABC, or …

What would an initial public offering for Digital Currency Group, or DCG, look like? Analysts at digital analytics firm Messari believe they have the answer. In a newly published report, researcher Jack Purdy lays out a theoretical initial public offering for DCG. Using data from quarterly updates, along with other publicly available information and the average price-to-sales ratio for comparable fintech companies, Purdy concludes that DCG would be valued at more than $4 billion if it went public. That lofty valuation is based on a careful examination of DCG’s underlying businesses. While casual crypto observations may not realize it, DCG …