Grayscale

Grayscale® Solana Trust Now Trading on OTC Markets

Retrieved on: 
Monday, April 17, 2023
Basic Attention Token, Bitcoin, Bitcoin Cash, Decentraland, Ethereum Classic, ZEN, Litecoin, Livepeer, Stellar, GBTC, SOL, LTC, LPT, MANA, Stellar (payment network), BAT, XLM, Sponsor, ETH, ETC, OTCQB, Decentralized finance, ZEC, SLX, Security (finance), BTC, Blockchain, FIL, BCH, Disclosure, OTC Markets Group, Trust, DFX, Grayscale, Bangladesh Securities and Exchange Commission, Movement, Sale, OTC, OTCQX, CoinDesk, LINK, Cryptocurrency, Chain-link fencing, Ethereum, Share (finance), Solana

STAMFORD, Conn., April 17, 2023 (GLOBE NEWSWIRE) -- Grayscale Investments® , the world’s largest digital currency asset manager, today announced that Grayscale® Solana Trust (the “Trust”) has begun trading on OTC Markets under the symbol: GSOL.

Key Points: 
  • STAMFORD, Conn., April 17, 2023 (GLOBE NEWSWIRE) -- Grayscale Investments® , the world’s largest digital currency asset manager, today announced that Grayscale® Solana Trust (the “Trust”) has begun trading on OTC Markets under the symbol: GSOL.
  • Solana (SOL) is the native token of the Solana Network, a smart contract platform first conceived in a 2017 whitepaper.
  • The Solana Network was designed to allow users to write and implement smart contracts which are executed on the Solana blockchain in exchange for payment of SOL.
  • Grayscale® Basic Attention Token Trust ( OTCQB: GBAT ), Grayscale® Bitcoin Trust ( OTCQX: GBTC ), Grayscale® Bitcoin Cash Trust ( OTCQX: BCHG ), Grayscale® Chainlink Trust ( OTCQB: GLNK ), Grayscale® Decentraland Trust ( OTCQX: MANA ), Grayscale® Ethereum Trust ( OTCQX: ETHE ), Grayscale® Ethereum Classic Trust ( OTCQX: ETCG ), Grayscale® Filecoin Trust ( OTCQB: FILG ), Grayscale® Horizen Trust ( OTCQX: HZEN ), Grayscale® Litecoin Trust ( OTCQX: LTCN ), Grayscale® Livepeer Trust ( OTCQB: GLIV ), Grayscale® Stellar Lumens Trust ( OTCQX: GXLM ), Grayscale® Zcash Trust ( OTCQX: ZCSH ), Grayscale® Digital Large Cap Fund ( OTCQX: GDLC ) and Grayscale® DeFi Fund ( OTCQB: DEFG ) are also publicly-quoted and available to all investors with access to U.S. securities.

Grayscale Investments® Provides Update on Distribution of Rights to Ethereum Proof of Work Tokens

Retrieved on: 
Thursday, March 16, 2023
Date, OTCQX, Sale, Grayscale Investments, Uncertainty, Cryptocurrency, Grayscale, Ethereum

The trading venues for the ETHPoW tokens have not yet been broadly established, and there is continued uncertainty both as to whether digital asset custodians will support the ETHPoW tokens and if trading markets with meaningful liquidity will develop.

Key Points: 
  • The trading venues for the ETHPoW tokens have not yet been broadly established, and there is continued uncertainty both as to whether digital asset custodians will support the ETHPoW tokens and if trading markets with meaningful liquidity will develop.
  • If digital asset custodians do support the ETHPoW tokens and/or trading markets do develop, it is expected that the ETHPoW token’s value will fluctuate widely for some time.
  • As a result of this uncertainty, as well as the potential for significant volatility in prices for the ETHPoW tokens, it is not possible to predict whether Grayscale, as agent, will be able to acquire the ETHPoW tokens or the value, if any, that Grayscale, as agent, will be able to realize from sales of the ETHPoW tokens.
  • Therefore, if Grayscale, as agent, is able to sell the ETHPoW tokens at all, there can be no assurance as to the price(s) for ETHPoW tokens that may be realized, and the value of the ETHPoW tokens may increase or decrease after any sale of ETHPoW tokens by Grayscale, as agent.

FTX Debtors File Lawsuit Against Grayscale Investments, LLC and its CEO and Owners

Retrieved on: 
Monday, March 6, 2023
Bitcoin, Ethereum, Oliver Cromwell, FTX, Net asset value, Trust, Trust law, Sullivan & Cromwell, Grayscale Investments, Digital Currency Group, Title 11 of the United States Code, Quinn Emanuel Urquhart & Sullivan, Multimedia, Delaware Court of Chancery, LLP, Grayscale, Research, Cryptocurrency, Security (finance)

WILMINGTON, Del., March 6, 2023 /PRNewswire/ -- FTX Trading Ltd. and its affiliated debtors (together, the "FTX Debtors") today announced that one of their debtor affiliates, Alameda Research Ltd., filed a lawsuit against Grayscale Investments, LLC ("Grayscale") in the Court of Chancery in the State of Delaware. The FTX Debtors also asserted claims against Grayscale's CEO, Michael Sonnenshein, and its owners, Digital Currency Group and Barry Silbert.

Key Points: 
  • WILMINGTON, Del., March 6, 2023 /PRNewswire/ -- FTX Trading Ltd. and its affiliated debtors (together, the "FTX Debtors") today announced that one of their debtor affiliates, Alameda Research Ltd., filed a lawsuit against Grayscale Investments, LLC ("Grayscale") in the Court of Chancery in the State of Delaware.
  • The FTX Debtors also asserted claims against Grayscale's CEO, Michael Sonnenshein, and its owners, Digital Currency Group and Barry Silbert.
  • The FTX Debtors are seeking injunctive relief to unlock $9 billion or more in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts (the "Trusts") and realize over a quarter billion dollars in asset value for the FTX Debtors' customers and creditors.
  • If Grayscale reduced its fees and stopped improperly preventing redemptions, the FTX Debtors' shares would be worth at least $550 million, approximately 90% more than the current value of the FTX Debtors' shares today.

Fir Tree Comments on Grayscale’s Latest Excuse to Obstruct Shareholder Redemptions

Retrieved on: 
Thursday, February 16, 2023
Professional Services, Finance, Bitcoin, Supreme, Fir Tree, Supreme court, ETF, Digital currency, Delaware Court, Delaware Court of Chancery, NAV, GBTC, Cryptocurrency, Security (finance), Grayscale

Fir Tree Partners (“Fir Tree” or “we”), a meaningful shareholder of the Grayscale Bitcoin Trust (“GBTC”), today issued the below statement in response to Grayscale Investments’ (together with GBTC, “Grayscale”) Twitter Spaces discussion held on February 8, 2023.

Key Points: 
  • Fir Tree Partners (“Fir Tree” or “we”), a meaningful shareholder of the Grayscale Bitcoin Trust (“GBTC”), today issued the below statement in response to Grayscale Investments’ (together with GBTC, “Grayscale”) Twitter Spaces discussion held on February 8, 2023.
  • “For over seven years, Grayscale has pointed to the SEC’s Regulation M as the primary reason it cannot provide shareholder redemptions.
  • Simply put, Reg M does not prevent Grayscale from allowing shareholder redemptions and Grayscale knows it.
  • Fir Tree Partners remains committed to taking all available actions to ensure that Grayscale is held accountable for these issues.”

Number of Crypto ETPs Grew 50% in 2022, Even as AUM Mirrored Drop in Cryptocurrency Prices

Retrieved on: 
Tuesday, January 17, 2023
Ethereum, Litecoin, TrackInsight, FNQ, OTC, Morningstar, Inc., Grayscale, CSE, Aum, AUM, FTX, LTCN, ETH, ETP, FTT, Exchange-traded product, Growth, AG, Research, Bankruptcy, ETF, Cryptocurrency, BTC, Bitcoin

For the month of Dec., the AUM of ETPs decreased by 5%, while the value of the cryptocurrency market dropped 8% to about $800 million.

Key Points: 
  • For the month of Dec., the AUM of ETPs decreased by 5%, while the value of the cryptocurrency market dropped 8% to about $800 million.
  • "Specific events, such as the bankruptcy of FTX, contributed to a fall in crypto prices and resultant AUMs."
  • Grayscale's Litecoin Trust (LTCN) launched in 2018, for example, grew more than 220x from an initial AUM of approx.
  • In the month of Dec., the AUM ETPs holding BTC dropped by 3% to $13.5 billion from $14 billion.

Coinbase and GenTwo Digital announce partnership for custody and execution

Retrieved on: 
Friday, January 13, 2023
PIMCO, Wisdom Tree, Invesco, BlackRock, Partnership, API, ETF, AMC, Advanced Diabetes Management Certification, ETP, Cryptocurrency, Grayscale, Coinbase

ZURICH, SWITZERLAND, Jan 14, 2023 - (ACN Newswire) - GenTwo Digital, the Zug-based subsidiary of GenTwo, today announces a partnership with Coinbase, the publicly-listed cryptocurrency platform.

Key Points: 
  • ZURICH, SWITZERLAND, Jan 14, 2023 - (ACN Newswire) - GenTwo Digital, the Zug-based subsidiary of GenTwo, today announces a partnership with Coinbase, the publicly-listed cryptocurrency platform.
  • GenTwo Digital, the leading provider of innovative securitization platforms is herewith extending the investment universe on digital assets for professional investors.
  • Any financial intermediary can create white labelled investment products in collaboration with GenTwo Digital and execute via Coinbase's platform.
  • Lucas A. Ereth, Managing Partner GenTwo Digital, says: "Through this partnership, GenTwo and Coinbase are not only providing a secure institutional gateway to crypto assets, but also helping GenTwo to fulfil our mission of expanding the investment universe, while creating a more open financial system for the world."

Fir Tree Comments on Grayscale’s Continued Obfuscation of the Facts and Refusal to Provide Clear Answers to GBTC Shareholders

Retrieved on: 
Monday, January 9, 2023
Professional Services, Finance, Bitcoin, Comment, Delaware Court of Chancery, Complaint, Delaware Court, GBTC, Silviculture, Grayscale

Fir Tree Partners (“Fir Tree” or “we”), a meaningful shareholder of the Grayscale Bitcoin Trust (“GBTC”), today issued the below comment regarding GBTC and Grayscale Investments’ (together with GBTC, “Grayscale”) formal answer to Fir Tree’s lawsuit.

Key Points: 
  • Fir Tree Partners (“Fir Tree” or “we”), a meaningful shareholder of the Grayscale Bitcoin Trust (“GBTC”), today issued the below comment regarding GBTC and Grayscale Investments’ (together with GBTC, “Grayscale”) formal answer to Fir Tree’s lawsuit.
  • Last month, Fir Tree filed a lawsuit in the Delaware Court of Chancery seeking information from Grayscale on potential mismanagement of and conflicts of interest at GBTC.
  • “Grayscale’s answer continues to obfuscate the facts and refuses to provide clear information to GBTC shareholders.
  • Fir Tree Partners remains committed to taking all available actions to ensure that Grayscale is held accountable for these issues and finally begins to act in the best interests of all shareholders.”

Grayscale® Digital Large Cap Fund, Grayscale® DeFi Fund, and Grayscale® Smart Contract Platform Ex-Ethereum Fund Announce Rebalancing of Funds for Fourth Quarter 2022

Retrieved on: 
Friday, January 6, 2023
Synthetix, CoinDesk, Decentralized finance, Grayscale, SNX, Cryptocurrency

The Synthetix network allows users to gain exposure to real-world currencies, commodities, stocks, and indices through a decentralized trading platform.

Key Points: 
  • The Synthetix network allows users to gain exposure to real-world currencies, commodities, stocks, and indices through a decentralized trading platform.
  • Users may then trade the synthetic asset with other synthetic assets available on the Synthetix platform.
  • In December of 2018 the project was renamed Synthetix and pivoted to creating a platform for trading of synthetic assets.
  • At the end of the day on January 5, 2023, the DeFi Fund’s Fund Components were a basket of the following assets and weightings.

Kaplan Fox Investigates Genesis Global Capital

Retrieved on: 
Monday, December 19, 2022
Gemini, Digital Currency Group, CoinDesk, Interim, Silbert, Financial adviser, Letter, Grayscale, Reuters, DCG, Cryptocurrency, Genesis

NEW YORK, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP ( www.kaplanfox.com ) is investigating potential claims on behalf of customers of Genesis Global Capital, LLC, including users of Gemini Trust Company, LLC’s (“Gemini”) Earn program.

Key Points: 
  • NEW YORK, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP ( www.kaplanfox.com ) is investigating potential claims on behalf of customers of Genesis Global Capital, LLC, including users of Gemini Trust Company, LLC’s (“Gemini”) Earn program.
  • Loans from Genesis Global Capital, which suspended customer withdrawals last week, were used to ‘fund investment opportunities’ and repurchase stock from non-employee shareholders, Silbert said in the letter, which was seen by Reuters.
  • Kaplan Fox & Kilsheimer LLP, with offices in New York, Oakland, Los Angeles, Chicago and New Jersey, has decades of experience in prosecuting investor class actions.
  • For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com .

Fir Tree Comments on Grayscale’s End of Year Investor Letter and Non-Committal Talk of a Tender Offer

Retrieved on: 
Wednesday, December 21, 2022
Professional Services, Finance, Bitcoin, Face, Delaware Court, Delaware Court of Chancery, Letter, GBTC, Security (finance), Grayscale

Fir Tree Partners (“Fir Tree” or “we”), a meaningful shareholder of the Grayscale Bitcoin Trust (“GBTC”), today issued the below statement in response to Grayscale Investments’ (“Grayscale” or the “Company”) end of year letter to investors published on December 19, 2022.

Key Points: 
  • Fir Tree Partners (“Fir Tree” or “we”), a meaningful shareholder of the Grayscale Bitcoin Trust (“GBTC”), today issued the below statement in response to Grayscale Investments’ (“Grayscale” or the “Company”) end of year letter to investors published on December 19, 2022.
  • Earlier this month, Fir Tree filed a lawsuit in the Delaware Court of Chancery seeking information from Grayscale on potential mismanagement of and conflicts of interest at GBTC.
  • “Grayscale’s recent letter to investors and accompanying media campaign is unfortunately nothing more than management trying to pay lip-service to the idea that they care about their shareholders.
  • If Grayscale management is serious about protecting shareholders and about this contemplated tender offer, then they should immediately provide details on the pricing, funding source, and design of the tender offer.