Crypto Markets News 

Bitcoin may be down 45% this year, but money is pouring into one crypto fund manager at the fastest clip in its history

“But for one crypto investor, this bearish backdrop has been coupled with a spike in investor interest” writes Frank Chaparro for businessinsider.com. Grayscale, which manages $2 billion in assets, runs a number of crypto funds including its Bitcoin Investment Trust as well as one for XRP, bitcoin cash, and ethereum.At the same time, over 300 crypto funds have launched to invest in digital assets, according to a report by Autonomous NEXT released this week.Bitcoin is trading down more than 45% since the beginning of the year, and the market for…

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Crypto News Stocks 

A wildly popular bitcoin stock is popping after a 91-for-1 split

“The company announced the split in January, when the stock was trading at more than $1,000” writes Graham Rapier for businessinsider.com. Now, shares of the investment trust are trading at a much more affordable $18.Shares of the Grayscale Bitcoin Investment Trust, a stock that seeks to imitate the price of bitcoin through its ownership of 0.09 BTC per share, opened up more than 8% Monday — rising as high as $19.57 — after a 91-for-1 split over the weekend made the stock more accessible to the masses.GBTC is the second…

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Crypto News 

U.S. regulators reject another bitcoin ETF proposal

“The Securities and Exchange Commission on Tuesday rejected a proposal that would’ve allowed for the creation of the SolidX Bitcoin Trust, a bitcoin-focused exchange-traded fund that would’ve traded on the New York Stock Exchange” writes Joseph Adinolfi for marketwatch.com. The agency cited concerns about possible market manipulation and regulation that echoed its March 10 rejection of the Winklevoss Bitcoin Trust, which would’ve traded on the BATS exchange.It’s widely believed by bitcoin watchers that the creation of a bitcoin ETF would provoke an influx of new capital into the digital-currency ecosystem,…

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