First Mover Americas: GBTC Discount Narrows to Lowest Since May 2022
The latest price moves in crypto markets in context for July 11, 2023.
This article originally appeared in , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context..
The discount to net asset value (NAV) for the $19 billion-plus Grayscale Bitcoin Trust (GBTC) to narrow in the wake of asset manager BlackRock’s application to open a spot bitcoin ETF in the United States. The discount to NAV fell to as low as 26% at one point last week – the trimmest level since May 2022 – and currently sits at about 27%, according to data from . BlackRock’s move for a spot bitcoin ETF set off a number of filings and re-filings for similar funds from a number of other industry actors, fellow asset management giant Fidelity.
Crypto data firm Arkham Intelligence controversy Monday by announcing a , angering privacy-focused crypto advocates. It turns out Arkham has already been leaking its own customers’ private information, a revelation that also seems to have emerged Monday, putting a spotlight on the companys own approach to user privacy just as it was rolling out a service meant to unmask crypto wallet owners on a massive scale. The issue stems from the way Arkham set up its weblink referral program. Users of Arkham’s wallet tracking dashboard can invite others onto the platform by sharing their unique referral URL. Those URLs appear to end with a meaningless jumble of characters. In reality, they’re an easy-to-decipher version of the user’s email address written in Base64, which is .
Bitcoin () could rise to $50,000 by the end of this year and up to $120,000 by end-2024, Standard Chartered Bank in a research report on Monday. The British multinational bank in April had put out a $100,000 forecast for the end of 2024, noting at that time the banking crisis, among other factors. "We now think this estimate is too conservative, and we therefore see upside to our end-2024 target," yesterday’s report said, this time pointing to increased miner profitability as among the bullish catalysts.
Disclaimer: This article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see our .
- Omkar Godbole
Edited by Stephen Alpher.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
What is MomoAI
VIPBitget VIP Weekly Research Insights
AI agents are rapidly evolving toward greater autonomy and intelligence. Once considered mere tools, they have now transformed into intelligent entities capable of independently executing complex tasks. A collaborative ecosystem is emerging, enabling multiple AI agents to work together—not just as assistants, but as decision-makers and operators in challenging environments. Technological advancements, such as improved tool integration and personalized memory capabilities, empower AI agents to perform tasks with greater precision and adaptability. AI agents are making waves in industries like finance, healthcare, and education, offering highly personalized services. As the technology matures, anticipation continues to grow for its implementation in businesses and B2B solutions, with 2025 poised to be a pivotal year for growth and adoption.
Bitcoin Nears $100,000 Again on Christmas Eve Amid Surprise Surge and Liquidations
Bitget Joins Forces with TRON DAO, Acquires $10M in TRX Tokens