GRAYSCALE
Ethereum Layer 2s Surpass Prominent Layer 1s in Total Value Locked
The surge of Layer 2 solutions like Arbitrum, Optimism, and BASE, overtaking Layer 1 blockchains Solana and Avalanche in terms of Total Value Locked (TVL) as of September 25, 2023, highlights the pivotal role of Layer 2s in augmenting the scalability and transactional efficiency of the Ethereum network. The data underscores a growing preference for Layer 2 solutions, demonstrating their potential in enhancing the blockchain technology landscape.
Why Grayscale's SEC Victory Is Unlikely to Benefit Bitcoin and Crypto Markets in the Long Run
The US Court of Appeals ruled in favor of Grayscale Investments, ordering the SEC to review its Bitcoin ETF application. This decision has boosted Bitcoin prices but may not provide long-term benefits due to inconsistent market reactions and declining trading volumes.
Grayscale Submits Comment Letter to SEC Regarding Spot Bitcoin ETF Application
Grayscale's legal team submitted a comment letter to the SEC, advocating for the approval of all spot bitcoin ETF applications, emphasizing fair regulation and investor protection.
GBTC Litigation: Fir Tree and Grayscale Reach Agreement
Fir Tree Partners, a significant shareholder of the Grayscale Bitcoin Trust (GBTC), and Grayscale Investments have reached an agreement resolving a lawsuit filed by Fir Tree in December 2022. The litigation sought documents and information from Grayscale about potential mismanagement and conflicts of interest at GBTC.
SEC Considers Filecoin a Security, Grayscale Disagrees
According to the SEC, Grayscale's Filecoin Trust's underlying asset, Filecoin (FIL), should be classified as a security under federal securities laws. The regulatory body's viewpoint has sparked a dispute, as Grayscale holds a differing opinion on the matter.
Grayscale Launches New Entity to Manage Growing Funds
Cryptocurrency asset manager Grayscale Investments has launched a new entity, the Grayscale Funds Trust, to manage its publicly traded financial products in-house. The company has also filed a registration statement for three new cryptocurrency-focused ETFs, including a Bitcoin Composite ETF, Ethereum Futures ETF, and a Privacy ETF.
Grayscale Files for Three New Crypto ETFs
Grayscale Investments has filed a registration statement with the SEC for three new cryptocurrency-focused ETFs, including a Bitcoin Composite ETF, Ethereum Futures ETF, and a Privacy ETF. Grayscale also announced the launch of its Grayscale Funds Trust to manage its publicly traded financial products in-house.
Grayscale CEO Calls on SEC to Protect Investors
Grayscale Investments’ CEO Michael Sonnenshein has called on the United States Securities and Exchange Commission (SEC) to protect Grayscale investors by returning the true asset value to them. Sonnenshein stated in a recent interview that the SEC acted arbitrarily by denying approval for the Grayscale Bitcoin Trust (GBTC) to be a spot Bitcoin exchange-traded fund (ETF) in June 2022, while approving Bitcoin Futures ETFs. He explained that the SEC violated the administrative procedures act, and that Grayscale is suing the SEC over the denial of its initial application. Grayscale has over a million investor accounts, and Sonnenshein called on the SEC to protect investors and return the value to them.
Grayscale CEO challenges SEC's denial of application
If GBTC becomes a spot BTC ETF, Grayscale Investments CEO Michael Sonnenshein stated investors will get a "few of billion dollars" back.
Digital Currency Group Sells Shares in Subsidiary's Crypto Funds
As the crypto empire struggles, Barry Silbert's Digital Currency Group has divested interests in Grayscale Investments funds.