Crypto Giant Grayscale Considers Selling Portion of $10,753,804,948 Bitcoin Trust if ETF Plan Fails: Report
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Crypto asset management giant Grayscale is reportedly considering selling some of its capital back to investors if the firm’s plans for exchange-traded funds (ETFs) don’t work out. According to a new Wall Street Journal report, Grayscale may explore alternative pathways to returning some of the Grayscale Bitcoin Trust’s (GBTC) capital to shareholders should the company’s plans for a BTC-backed ETF fall through. According to a letter sent to investors from Grayscale Chief Executive Michael Sonnenshein, options may include “a tender offer for up to 20% of the outstanding shares of the $10.7 billion trust.” The Grayscale Bitcoin Trust was set up
Bitcoin Magazine Morgan Stanley Plans To Offer Bitcoin And Crypto Trading To E-Trade Clients Bloomberg reports that the Wall Street giant is in the early stages of planning to add spot Bitcoin and crypto trading capabilities to its ETrade brokerage platform. The project aims to allow ETrade’s retail clients to…
Bitcoin Magazine Russia Is Using Bitcoin and Crypto For Its Oil Trades with China and India Amid ongoing sanctions over the war in Ukraine, Russia has turned to bitcoin and other cryptocurrencies to facilitate some of its oil trade with major buyers China and India. According to a Reuters report,…