about Valkyrie’s intentions. “Valkyrie is launching the Valkyrie Opportunistic Fund in an effort to become the new sponsor of GBTC and facilitate redemptions at NAV and for a fee of 75bps,” Balchunas tweeted. “Long shot but speaks to growing pressure.”Facilitate orderly redemptions at net asset value for all investors who want it through a timely Regulation M filing. This will ensure that all investors have the option to redeem their shares at a fair price, without any delays or obstacles.
Lower the fees to a more equitable level, in line with best industry practices. We propose a fee of 75 basis points, which is significantly lower than the current rate of 200 basis points. Attempt to offer redemptions in both bitcoin and cash for investors. This will give investors greater flexibility and choice when it comes to redeeming their shares.
Valkyrie’s offer comes at a time when Grayscale’s parent firm Digital Currency Group has been having issues with its subsidiary Genesis Global Capital. In mid-November, Genesis’ lending arm
Source: Digital Coin News (digitalcoinnews.net)
What do you think the potential impact could be on GBTC if Valkyrie is successful in its bid to become the new sponsor?
Do you think lowering the fees for GBTC to 75 basis points, as Valkyrie has proposed, is a fair rate?
What do you think of Valkyrie's proposal to facilitate redemptions at net asset value for GBTC investors?
How do you think the current issues at Digital Currency Group and its subsidiary Genesis Global Capital could impact Grayscale's Bitcoin Trust?
I bought gbtc in the last week. It's like a hedge against further downside as opposed to owning btc.
Do they realy need it for something?
This is great news for crypto! The move by Valkyrie further cements Bitcoin’s status as a legitimate asset. HODLing anyone? btc
This is great news for Bitcoin! Valkyrie is set to bring a lot of experience to Grayscale's GBTC, helping to further its adoption as an accepted form of currency. HODLing crypto
This is great news! 👍 We're seeing more and more institutions HODLing and supporting Bitcoin, which is a positive sign for mainstream adoption of the crypto space. Let's moon! 🚀
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