GBTC - Digital Currency Group Sees Revenue Rise Despite Grayscale Struggles | Benzinga
Digital Currency Group (DCG), the investment firm behind industry giant Grayscale, reported a strong first quarter with overall revenue climbing 11% to $229 million.
What Happened: This positive performance comes despite ongoing challenges faced by Grayscale’s flagship product, the Grayscale Bitcoin Trust (OTC:GBTC), Coindesk reported.
“The first quarter of 2024 was marked by several exciting developments for our industry,” DCG said in a letter to shareholders, highlighting the approval of the long-awaited Bitcoin ETF and the surge in Bitcoin prices. “Against this backdrop, we are pleased to showcase a strong start to the year for DCG.”
Grayscale Holds Steady Despite Outflows
Grayscale, a subsidiary of DCG, contributed $156 million to ...