Well-liked retail brokerage Robinhood Markets Inc HOOD has listed two new cryptocurrency merchandise.
What Occurred: In an announcement on Friday, Barry Silbert, founding father of Grayscale dad or mum Digital Foreign money Group (DCG), mentioned Robinhood had listed the Grayscale Bitcoin Belief GBTC and Grayscale’s Ethereum Belief ETHE.
Lastly! Now you can commerce Grayscale Bitcoin Belief and Grayscale Ethereum Belief on Robinhood$GBTC $ETHE https://t.co/MzOJxvI7GG
— Barry Silbert (@BarrySilbert) May 6, 2022
GBTC is the world’s largest Bitcoin fund with $23 billion in belongings underneath administration. In November, the fund had an AUM of over $43 billion. The fund trades like a inventory over-the-counter and derives its worth from the worth of Bitcoin.
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GBTC can be the funding car of selection for establishments in search of Bitcoin BTC/USD publicity. In March, filings revealed that Morgan Stanley MS had overtaken Ark Make investments to grow to be GBTC’s largest shareholder.
Trade watchers imagine that Grayscale is a strong contender to have the primary spot Bitcoin ETF accredited by the SEC.
Value Motion: 12 months thus far, GBTC is down 26% and ETHE is down 39.4%. As per information from Benzinga Pro, Bitcoin was buying and selling at $33,700 and Ethereum ETH/USD was buying and selling at $2,470.
Photograph courtesy: Robinhood
