{"id":80534,"date":"2023-06-21T10:37:00","date_gmt":"2023-06-21T07:37:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80534"},"modified":"2025-09-11T17:34:47","modified_gmt":"2025-09-11T14:34:47","slug":"grayscale-bitcoin-trust-trading-volume-surges-fivefold","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/grayscale-bitcoin-trust-trading-volume-surges-fivefold\/","title":{"rendered":"Grayscale Bitcoin Trust trading volume surges fivefold"},"content":{"rendered":"<p>Trading volume<strong> <\/strong><span data-descr=\"Grayscale Bitcoin Trust\" class=\"old_tooltip\">GBTC<\/span> from Grayscale Investments jumped 400%, from $16.1 million to $80 million. The market reacted to BlackRock<a href=\"https:\/\/u1f987.com\/en\/news\/blackrock-files-for-bitcoin-etf-launch\"> filing with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span><\/a> for creating a bitcoin-<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We see positive expectations regarding the approval of BlackRock&#8217;s initiative. This could ease the situation for Grayscale in its bid to convert the product into an exchange-traded fund,&#8221;<\/em> \u2014 commented in <a href=\"https:\/\/www.theblock.co\/post\/235630\/gbtc-trading-volume-spikes-after-blackrock-files-for-bitcoin-etf\">The Block<\/a>.<\/p>\n<\/blockquote>\n<p>In October 2021, Grayscale <a href=\"https:\/\/u1f987.com\/en\/news\/dcg-chief-confirms-plans-to-convert-grayscales-bitcoin-trust-into-an-etf\">sent the corresponding application<\/a>. On December 17, the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/sec-delays-decisions-on-bitwise-and-grayscale-bitcoin-etf-applications\">delayed<\/a> decision on the petition, and in February 2022 <a href=\"https:\/\/u1f987.com\/en\/news\/sec-delays-decisions-on-bitwise-and-grayscale-bitcoin-etf-applications\">again postponed<\/a> the date on this matter. On June 30, Grayscale <a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-sues-sec-over-refusal-to-convert-gbtc-into-an-etf\">filed suit against the regulator<\/a> after a negative response.<\/p>\n<p>Bloomberg analyst James Seyffart saw in the possible approval of BlackRock&#8217;s filing a threat to GBTC&#8217;s valuation and potential pressure on the product&#8217;s fees.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Moreover, if the bitcoin trust is converted into an ETF, investors could start redeeming funds,&#8221;<\/em> he added.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/www.theblock.co\/post\/235737\/blackrock-etf-launch-would-put-pressure-on-grayscales-valuation-bloomberg-analyst\">The Block<\/a>, since the start of 2023 Grayscale has earned $230 million from crypto ETFs. The annual management fee for products is 2-2.5%. Their total <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span><a href=\"https:\/\/grayscale.com\/products\/\"> exceeds $23.5 billion<\/a>, including GBTC \u2014 $17.5 billion.<\/p>\n<p>In July 2022, the Wall Street Journal <a href=\"https:\/\/u1f987.com\/en\/news\/wall-street-journal-criticises-sec-chief-over-bitcoin-etf-situation\">accused<\/a> SEC Chair Gary Gensler of a &#8220;confusing&#8221; approach to approving a spot Bitcoin ETF. Journalists described Grayscale&#8217;s chances of winning the lawsuit against the agency as high.<\/p>\n<p>Spot Bitcoin ETFs have gained regulatory approvals from Canada, <a href=\"https:\/\/forklog.news\/kanada-ranshe-ssha-zaregistrirovala-bitkoin-etf\/\">Canada<\/a>, <a href=\"https:\/\/forklog.news\/braziliya-vtoroy-v-mire-odobrila-bitkoin-etf\/\">Brazil<\/a>, Australia, and <a href=\"https:\/\/forklog.news\/jacobi-asset-management-poluchila-listing-bitkoin-etf-na-euronext-v-amsterdame\/\">the Netherlands<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trading volume of GBTC from Grayscale jumped 400%, from $16.1 million to $80 million. The market reacted to BlackRock&#8217;s filing with the SEC for creating a bitcoin-ETF.<\/p>\n","protected":false},"author":1,"featured_media":80535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1214,943,1138],"class_list":["post-80534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-grayscale-bitcoin-trust","tag-grayscale-investments","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=80534"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80534\/revisions"}],"predecessor-version":[{"id":80536,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80534\/revisions\/80536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/80535"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=80534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=80534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=80534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}