GBTC - Why Grayscale Could Be The Spark ETH Needs: 10x Research | Benzinga
A crypto research firm on Monday predicted a low chance of Grayscale suing the SEC over a potential rejection of the Ethereum ETF application on May 23.
What Happened: In fresh analysis, 10x Research highlighted the aftermath of the Ethereum (CRYPTO: ETH) Dencun upgrade and its impact on the market.
Since the Ethereum Dencun upgrade on March 13, 2024, ETH Gas fees have declined from 50 Gwei to just 3 Gwei while ETH prices dropped from 4,037 to 2,931 (or -27%),” lead analyst Markus Thielen noted, predicting further declines for Ethereum into the summer.
The focus, however, shifts to Grayscale, a major player in the cryptocurrency investment space, following its legal victories against the SEC.
“Not only was their Bitcoin product trading at one point -50% below its NAV but holders were locked in and could not redeem the product while being forced to pay a 2% ...