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Grayscale filed a new registration statement with the Securities and Exchange Commission after a D.C. circuit court ruled the regulator must look again at the company's application. Major cryptocurrency investment firm Grayscale has filed a new application with the Securities and Exchange Commission (SEC) for a new spot Bitcoin (BTC) exchange-traded fund (ETF). Grayscale on Oct. 19 submitted an S-3 form registration statement with the SEC intending to list the shares of Grayscale Bitcoin Trust on the New York Stock Exchange (NYSE) Arca under the ticker symbol GBTC. The new filing comes in line with Grayscale’s ongoing effort to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF, according to a statement by Grayscale.  “We remain committed to working collaboratively and expeditiously with the SEC on behalf of GBTC’s investors,” the firm wrote in the announcement. The latest S-3 registration statement is a shorter filing version of a typical form S-1 statement that targets ...

A lack of network activity and ground lost to competitors could eventually play a role in ETH losing the $1,600 support. Ether (ETH) price surged by 31.3% from March 10 to March 18, coinciding with the U.S. Federal Reserve's injection of $300 billion to address the insolvency of Silicon Valley Bank.. Since then, Ether’s price consistently maintained a daily closing price above $1,600.  However, investors are now casting doubt on Ether's ability to sustain this support level, given the prevailing bearish sentiment in the cryptocurrency space and declining metrics on the Ethereum network. Over the past six months, the cryptocurrency sector has been plagued by negative developments. Notably, the Digital Currency Group (DCG), the owner of Grayscale mutual fund manager, has faced financial troubles. Concerns are mounting that a portion of the $4.8 billion worth of ETH deposits held in the Grayscale Ethereum Trust could be liquidated to address DCG's debts. Furthermore, two majo...

BTC bulls were liquidated during the drop to $15,500 on Nov. 21, and more downside could occur if bears profit $245 million during Friday’s expiry. Bitcoin (BTC) faced a 7.3% drop between Nov. 20-21 as it tested the $15,500 support. While the correction seems small, the movement has caused $230 million in liquidations in futures contracts. Consequently, bulls using leverage came out ill-prepared for the $1.14 billion monthly options expiry on Nov. 25. Bitcoin investors’ sentiment worsened after Genesis Trading, which is part of the Digital Currency Group (DCG) conglomerate, halted payouts at its crypto lending arm on Nov. 16. More importantly, DCG owns the fund management company Grayscale, which is responsible for the largest institutional Bitcoin investment vehicle, the Grayscale Bitcoin Trust (GBTC). Additionally, Bitcoin miner Core Scientific has warned of “substantial doubt” about its continued operations over the next 12 months given its financial uncertainty. In its quarterly r...

ARK appears unfazed by Silvergate as it increases Coinbase exposure by over 700,000 shares in 2023. Bitcoin (BTC) exchange Coinbase has remained a firm “buy” for ARK Invest throughout its recent price drop. The latest data shows ARK continuing to buy Coinbase shares despite bankruptcy concerns over  Silvergate Bank — a major Coinbase partner. ARK ETF keeps topping up on Coinbase stock In the latest demonstration of its fearless approach to the crypto space, ARK purchased another 47,568 shares of Coinbase on March 7. This adds to the roughly 6 million shares already held in ARK’s ARKK exchange-traded fund (ETF) at the start of the month , and is already its third purchase of the week. Coinbase has been under pressure since the start of February, dropping from local highs of $87.50 to current levels of $61.69 — a decrease of almost 30% in just over a month, according to data from TradingView. COIN/USD 1-day candle chart (Nasdaq). Source: TradingView While Silvergate precipitated fresh s...