GBTC Manager Insists the ‘Holdings of Grayscale’s Digital Asset Products Are Safe and Secure’ – Bitcoin News

“Each of Grayscale’s digital asset products is set up as a separate legal entity: an investment trust for single asset products, and limited liability company for diversified products,” Grayscalein an update on Friday. “The laws, regulations, and documents that define Grayscale’s digital asset products prohibit the digital assets underlying the products from being lent, borrowed, or otherwise encumbered.

All digital assets that underlie Grayscale’s digital asset products are stored under the custody of Coinbase Custody Trust Company, LLC — To be perfectly clear: the [bitcoin] underlying Grayscale Bitcoin Trust are owned by [GBTC and GBTC] alone. Grayscale further added that Coinbase frequently confirms onchain validation, but the company has never publicly disclosed onchain addresses to the general public. “Due to security concerns,” Grayscale said. “We do not make such [onchain] wallet information and confirmation information publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure.

The firm noted that it understands that not sharing proof-of-reserves may be “a disappointment to some,” but Grayscale further stressed, “panic sparked by others is not a good enough reason to circumvent complex security arrangements that have kept our investors’ assets safe for years.”

DCG is buying GBTC and hedge with BTC futures. This cause a discount in futures. Bitcoiner should buy the futures, as it is marked to market, and the discount will close. Whereas there is no guarantee GBTC discount will close. Let DCG have a taste of their medicine holding GBTC

NewsAsset Nothing to see here folks!

Saying 'everything is okay' is a 🚩 that everything isn't okay

Ironic, a BTC made of gold!

That means they’re bust.

Jesus, we heard that a week ago from SBF and months ago with Celsius and the like!

Source: Trust us bro.

yeah, safe again! Another Sam?

Sure. Eye roll

“Safe & effective?”

its secure but will it be worth more?

😂😂😂

Whyy did the mediaa keepp a blind eye on this

Thats great, I have recently started using ChiefraFba for signals, his accuracy is INSANE!

BOOM! Another winning signal today from ChiefraFba

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