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Grayscale Investments has selected BNY Mellon as the asset servicing provider for the Grayscale Bitcoin Trust (OTCQX: GBTC). The agreement, effective October 1, 2021, includes fund accounting, administration, and future ETF services. This partnership aims to enhance scalability and innovation, positioning Grayscale for a successful ETF conversion, aligning with its strategic product pipeline. Grayscale's assets under management exceed $30 billion, while BNY Mellon administers over $41.7 trillion in assets, solidifying their commitment to the growing digital asset market.
Marlton, LLC, a notable investor in Grayscale Bitcoin Trust (GBTC), supports Digital Currency Group's decision to authorize the purchase of up to $750 million worth of GBTC shares. This move aims to address the significant discount between GBTC’s market price and its net asset value, according to James C. Elbaor, Managing Member of Marlton. The firm believes this action could enhance stockholder value and reinforces GBTC's position as the largest Bitcoin fund. Marlton previously called for a Modified Dutch Auction Tender Offer for GBTC shares.
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