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- Grayscale resolves lawsuit
GM, this is The Crypto Explorer, the only newsletter with headlines so hot our writer can't stand the heat! 🥵
Here’s what we got for you today:
👏 Grayscale Resolves Lawsuit with Fir Tree Over its Bitcoin Trust.
💪 Bitcoin Dominates Third Week of Positive Inflows!
🧱 Around The Block: Cboe refiles 5 Bitcoin ETFs to include Coinbase surveillance agreements.
👏 Grayscale Resolves Lawsuit with Fir Tree Over its Bitcoin Trust.
Grayscale and Fir Tree Capital Management have finally reached an agreement!
In case you don’t know:
Fir Tree filed a lawsuit against Grayscale in December 2022 to prevent Grayscale from converting its $10.7 billion Grayscale Bitcoin Trust (GBTC) into a spot exchange-traded fund (ETF).
They were also demanding that Grayscale lower its fees, start redemptions and hand over documents relating to its relationship with the Digital Currency Group, Grayscale’s parent company.
But the legal battle appears to be over.💃
Grayscale has now agreed to provide additional documentation related to its Bitcoin Trust (GBTC).
💪 Bitcoin Dominates Third Week of Positive Inflows!
The digital asset market has experienced a third consecutive week of positive inflows!
According to CoinShares, this week's inflows reached $136 million, with Bitcoin (BTC) continuing to dominate as the preferred investment, accounting for 98% of the inflows.
The remaining 2% was distributed among Ether (ETH), multi-asset holdings, and other alternative coins.
This third consecutive week of positive inflows brings the current streak’s total to $470 million, completely reversing the previous nine weeks of outflows.
But it’s not all good news.😔
There are indications of potential equilibrium on the horizon as overall liquidity appears to be declining, and some investors appear nervous over the lack of a clear trend.
🧱 Around The Block: Cboe refiles 5 Bitcoin ETFs to include Coinbase surveillance agreements
🤖Bitcoin ETFs: Cboe refiles 5 Bitcoin ETFs to include Coinbase surveillance agreements.
🗣️Rebuttal: Arkham CEO refutes claims of ‘snitch-to-earn’ program, says it's to find bad actors.
🤑Sale: Cathie Wood’s ARK sells 135K Coinbase shares as price hits $90.
📑Report: BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst says.
That's all we've got for you today.
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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be NEW”
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