Grayscale Bitcoin Trust Assailed by Investor Over Discount

As of March 31, the share price represented a $3.1 billion loss to shareholders compared with the Bitcoin it holds, according to a letter that Marlton LLC sent Tuesday to the board of Grayscale Investments LLC, the trust’s parent.

Grayscale Investments said on Monday that it intends to reapply to the Securities and Exchange Commission to convert the trust into a Bitcoin exchange-traded fund, a process it abandoned in 2017.

Even as Bitcoin skyrocketed about 772% in the past year, the trust shares have swung from a 40% premium in December to a discount today.

“Aggressive competition from NYDIG, Galaxy Digital and BlockFi, among others, threatens GBTC’s dominant U.S.

Brazilian President Jair Bolsonaro said on Wednesday there would be “no national lockdown,” ignoring growing calls from health experts a day after the nation saw its highest number of COVID-19 deaths in 24 hours since the pandemic began.

You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California.

Traders will be looking ahead to the release later in the day of minutes from the Federal Reserve’s latest meeting on interest rate policy to watch for clues about the Fed’s thinking about the economy and how long it might wait before eventually raising rates.

LOS ANGELES — Tiger Woods was driving nearly 90 mph — twice the posted speed limit — on a downhill stretch of road when he lost control of an SUV outside Los Angeles and crashed in a wreck that left the golf superstar seriously injured, authorities said Wednesday. “The primary causal factor for this traffic collision was driving at a speed unsafe for the road conditions and the inability to negotiate the curve of the roadway,” the sheriff told a news conference.

The resolution voted on Tuesday did not address the criticism but denounced the lawsuit, saying it “wishes to avoid the distraction and wasteful expenditure of public funds in frivolous litigation.” Tuesday’s meeting was also the first since the board voted last week to remove one of its members, Alison Collins, from her role as vice-president and other titles over tweets about Asian Americans dating to 2016.

“Over the last two years, we have worked to piece together an investigation in which two young people lost their lives in such a calculated manner,” said homicide unit Staff Sgt.

The teams’ quarterfinal was supposed to be played on March 2, but it was postponed due to COVID-19 infections among several Regensburg players a couple of days after coach Mersad Selimbegovic was diagnosed with what the club said was the “highly contagious British mutation of the coronavirus.” The opening minutes of the second half had more goal-mouth action than the entire first half.

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