Everything you wanted to know about Grayscale BTC Trust but were afraid to ask!

[Daltonik]

Assets under the management of the Grayscale Ethereum Trust fund exceeded $10 billion, which currently corresponds to the value of 3,140,000 ETH at the market rate and amounts to $10.5 billion.

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[Karartma1]

And in the meantime Marlton, a private investment firm, had something to say about Grayscale Bitcoin Trust in a letter sent to its partners today.
The firm basically claimed that its investments in GBTC and other Grayscale-related trades have been a disaster as the difference between trust NAV and market value fluctuated too much through the first half of this year. Marlton has been unwinding those positions as a result.
Dear Marlton if you'd have bought real Btc instead!

[JayJuanGee]

And in the meantime Marlton, a private investment firm, had something to say about Grayscale Bitcoin Trust in a letter sent to its partners today.
The firm basically claimed that its investments in GBTC and other Grayscale-related trades have been a disaster as the difference between trust NAV and market value fluctuated too much through the first half of this year. Marlton has been unwinding those positions as a result.
Dear Marlton if you'd have bought real Btc instead!

Do you have a link?

[Karartma1]

https://www.thestreet.com/crypto/news/gbtc-under-fire-from-chicago-firm
There you go.
I'm sorry but that's under a paywall but if you Google that well you should be able to find more on that.
That's a very bad situation for Grayscale and if they won't switch to an etf soon it's gonna be hard for the trust.

[JayJuanGee]

https://www.thestreet.com/crypto/news/gbtc-under-fire-from-chicago-firm
There you go.
I'm sorry but that's under a paywall but if you Google that well you should be able to find more on that.
That's a very bad situation for Grayscale and if they won't switch to an etf soon it's gonna be hard for the trust.

Yes.. I noticed the paywall, and all of the googled articles on Marlton and GBTC were several weeks ago.. so the statement of Marlton's disappointment regarding their GBTC position seems to have been a recent development.. and part of the solution might have been to have invested directly in bitcoin - even though of course, we know that some companies do feel better going through some kind of investment vehicle - and there continue to be NOT too many investment vehicles out there.

[NathanielParker]

Grayscale, the world’s largest digital asset management firm, saw a sharp increase in the overall value of its cryptocurrency assets under management (AUM) after the latest rally in Bitcoin (BTC) and Ethereum (ETH).
Overall, the total value of Grayscale’s digital assets under management currently stands at around $43 billion.

https://www.financemagnates.com/cryptocurrency/news/grayscales-bitcoin-holdings-cross-31-billion/?utm_source=cryptorank&utm_medium=rss

[Daltonik]

According to the buybitcoinworldwide.com, 816,379 BTC worth $38.3 billion are currently owned by 14 bitcoin fund issuers and asset managers, which is about 3.9% of the total BTC supply.
The industry leader, the Grayscale Bitcoin Trust, represents more than 3% of the bitcoin supply, managing 654,600 BTC (worth $30.7 billion ( according to bybt.com 649,350 BTC worth $31.62 billion).

[Karartma1]

Morgan Stanley has decided to increase its position in the Grayscale BTC Trust:

They bought 928,051 GBTC shares.

Since April they have been investing in GBTC. MS has been very active in the crypto space over the past few months just by setting up funds to be dedicated to buying (direct or indirect) Bitcoin and cryptos.
As for indirect purchases on BTC, Morgan Stanley established the Institutional Fund, Institutional Fund Trust, Insight Fund, and Variable Insurance Fund just last April. Each of these funds can invest up to 25% of its assets in bitcoin.
In March, Morgan Stanley had instead established the first fund of its kind, the FS NYDIG Select Bitcoin Fund, which attracted nearly $30 million from investors.
It was the first major U.S. bank to offer its clients the direct purchase of fund shares that allow them to take a position in Bitcoin.
An old jurassic monster, eating the revolutionary meal.

[fillippone]

Here you are: I just updated the spreadsheet with new filings:



Morgan Stanley is now one of the biggest holder with different total sizes across different portfolios.
You see from the last column that they just bought their stash.

[JayJuanGee]

Here you are: I just updated the spreadsheet with new filings:



Morgan Stanley is now one of the biggest holder with different total sizes across different portfolios.
You see from the last column that they just bought their stash.

I do appreciate that you updated that spreadsheet information in Op.. not that I completely understand it, but for sure, anyone who wants to study the significance of the various spreadsheets can do so through Op and also subsequent postings in this thread.

I would like to suggest that it might be easier if there were a "last updated" date that would be contained next to each spreadsheet link - and also within that particular spreadsheet there is a column that provides an amount for the "last change," but there is no column that states the date of the last change (which might be helpful, perhaps?)

[Daltonik]

According to bybt, on Wednesday, August 25, there was the last GBTC unlock this year, which amounted to the equivalent of only 58 BTC. The biggest unlocking of GBTC shares occurred on July 18, which amounted to 16,240 BTC. The next series of unlocks is planned no earlier than 2022, therefore there will be no noticeable pressure on the price of bitcoin, at least from the Grayscale Bitcoin Trust.  https://cointelegraph.com/news/grayscale-bitcoin-trust-fud-is-now-over-as-the-last-gbtc-unlock-totals-just-58-btc

[fillippone]

The next series of unlocks is planned no earlier than 2022

This is something I called on a message above, and it is clearly visible from my spreadsheet.
Regarding the "next series of unlocks" I would say that there are NO PLANS, as the fund is currently closed.
So at the moment there are no unlocks.
In the event of the fund subscription reopening, the first unlocks of course will be in 2022, as the unlock period is 6 months.

[Karartma1]

New documents filed with the U.S. Securities and Exchange Commission reveal that four asset management firms have acquired shares in Grayscale's Bitcoin Investment Trust.
As first reported by MacroScope, a Twitter feed dedicated to institutional trading and asset management, the firms revealed their holdings in GBTC in new documents for the period ending June 30, 2021.
Major companies are finding new and diversified ways to gain exposure to Bitcoin. As reported by Cointelegraph, tech giant Intel recently revealed a sizable position in Coinbase stock, a move that effectively gives the company a sdirect exposure to the cryptocurrency market.

https://cointelegraph.com/news/wealth-managers-gain-exposure-to-bitcoin-via-grayscale-according-to-new-sec-filings

[fillippone]

New documents filed with the U.S. Securities and Exchange Commission reveal that four asset management firms have acquired shares in Grayscale's Bitcoin Investment Trust.
As first reported by MacroScope, a Twitter feed dedicated to institutional trading and asset management, the firms revealed their holdings in GBTC in new documents for the period ending June 30, 2021.
Major companies are finding new and diversified ways to gain exposure to Bitcoin. As reported by Cointelegraph, tech giant Intel recently revealed a sizable position in Coinbase stock, a move that effectively gives the company a sdirect exposure to the cryptocurrency market.

https://cointelegraph.com/news/wealth-managers-gain-exposure-to-bitcoin-via-grayscale-according-to-new-sec-filings

But you already know that!
Fillippone told you so updating that spreadsheet!

If you looked in my spreadsheet, you could already spot that investment.
But I fin that quite uninteresting.
What about NEW investment?

Filter the spreadsheet to HODL period =<0.25, reference date = 30/06/21 or later:



You are welcome, fellow journalists: here there are all the new investments in GBTC!

[JayJuanGee]

New documents filed with the U.S. Securities and Exchange Commission reveal that four asset management firms have acquired shares in Grayscale's Bitcoin Investment Trust.
As first reported by MacroScope, a Twitter feed dedicated to institutional trading and asset management, the firms revealed their holdings in GBTC in new documents for the period ending June 30, 2021.
Major companies are finding new and diversified ways to gain exposure to Bitcoin. As reported by Cointelegraph, tech giant Intel recently revealed a sizable position in Coinbase stock, a move that effectively gives the company a sdirect exposure to the cryptocurrency market.

https://cointelegraph.com/news/wealth-managers-gain-exposure-to-bitcoin-via-grayscale-according-to-new-sec-filings

But you already know that!
Fillippone told you so updating that spreadsheet!

If you looked in my spreadsheet, you could already spot that investment.
But I fin that quite uninteresting.
What about NEW investment?

Filter the spreadsheet to HODL period =<0.25, reference date = 30/06/21 or later:



You are welcome, fellow journalists: here there are all the new investments in GBTC!

No one can keep up with the Italian stallion.. Just to give others a fair chance, we are going to have to put some 200 lb weights on you, or perhaps 200 kilos would be MOAR better?

[Karartma1]

In fact, I could have had a look at your spreadsheet first but I must admit I failed to read it in a while. You're right, fellow journalists could come here and suck the knowledge out of your precious work. Or, actually, they're already doing that. 
Keep up the excellent work fillippone

[Daltonik]

You are welcome, fellow journalists: here there are all the new investments in GBTC!

Yes, journalists really do not have time for the Fillippone table, but still the SEC announces it officially, so they write about it, for example, the message: "in a statement dated August 27, filed with the SEC, the Miller Opportunity Trust fund announced the ownership of 1.5 million shares of Grayscale Bitcoin Trust. Their total cost as of June 30 was $44.7 million"   https://u.today/billionaire-bill-millers-value-fund-discloses-447-million-stake-in-grayscales-bitcoin-trust

[fillippone]

You are welcome, fellow journalists: here there are all the new investments in GBTC!

Yes, journalists really do not have time for the Fillippone table, but still the SEC announces it officially, so they write about it, for example, the message: "in a statement dated August 27, filed with the SEC, the Miller Opportunity Trust fund announced the ownership of 1.5 million shares of Grayscale Bitcoin Trust. Their total cost as of June 30 was $44.7 million"   https://u.today/billionaire-bill-millers-value-fund-discloses-447-million-stake-in-grayscales-bitcoin-trust

Yes. This is journalism, or is it news broadcasting? No added value, no background check.
I tried to do some original work, for example on restricted shares, and building all those spreadsheet to reorganise knowledge on a different and more convenient format.

[JayJuanGee]

You are welcome, fellow journalists: here there are all the new investments in GBTC!

Yes, journalists really do not have time for the Fillippone table, but still the SEC announces it officially, so they write about it, for example, the message: "in a statement dated August 27, filed with the SEC, the Miller Opportunity Trust fund announced the ownership of 1.5 million shares of Grayscale Bitcoin Trust. Their total cost as of June 30 was $44.7 million"  https://u.today/billionaire-bill-millers-value-fund-discloses-447-million-stake-in-grayscales-bitcoin-trust

Yes. This is journalism, or is it news broadcasting? No added value, no background check.
I tried to do some original work, for example on restricted shares, and building all those spreadsheet to reorganise knowledge on a different and more convenient format.

For sure there is value in having an outstanding spreadsheet that seems to be pretty accurate, so if new information comes into the picture, it can be put into a context that helps to interpret the significance of that new information a bit better.  

So sometimes some of the random bitcoin "journalists" get shit so damned wrong because they might not have access to contextual information.. and sure sometimes they can be blamed for such sloppiness and seemingly lack of due diligence, and other times, it makes sense that they are trying to get something out there in a rapid way (so maybe not even purposefully trying to mislead anyone, even though sometimes in the bitcoin space we are likely to see that there seems to be some purposeful attempts at misleading from time to time, too.. ).

[Daltonik]

I didn't find any data about a company from Texas, US Global Investors, in the table (or I just wasn't paying attention), so she disclosed her position in GBTC in a filing filed on August 30 with the SEC.
As of June 30, 2021, US Global Investors owned $566,389 worth of GBTC shares through three funds:
Gold and Precious Metals Fund — $302,899;
World Precious Minerals Fund — $222,532;
Global Resources Fund — $40,958.
The share of GBTC in the total assets of the funds is 0.19%.  https://cointelegraph.com/news/us-global-investors-bought-crypto-exposure-through-grayscale-funds