On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
In a further sign of a shake-up in the institutional market, DCG is eyeing the purchase along with hiring ETF specialists.
Cryptocurrency asset manager Grayscale has a new buyer of shares in its Grayscale Bitcoin Trust (GBTC) — its owner.
In a press release on March 10, Grayscale parent company Digital Currency Group (DCG) announced plans to purchase up to $250 million of GBTC shares.
GBTC to buy "up to $250 million" in shares
The move, which comes amid volatile conditions for GBTC, follows plans to hire specialists in the exchange-traded fund (ETF) sphere, signaling a potential diversification by the company.
According to the press release, DCG "has authorized the purchase by DCG of up to $250 million worth of shares of Grayscale Bitcoin Trust."
"DCG plans to use cash on hand to fund the purchases and will make the purchases on the open market," it adds.
DCG did not specifically state the reasoning behind the buyback.
Canada ETFs put the cat among the pigeons
As Cointelegraph reported, GBTC traded at its steepest-ever discount last week, with investors able to get exposure to Bitcoin at 13% below market value.
The regulatory go-ahead for ETFs to launch in Canada is thought to have contributed to Grayscale's headache, with investors looking for the best-value proposition when it comes to embracing the traditionally volatile asset class.
The U.S. has yet to license a single ETF, with anticipation nonetheless building that regulators will sign off on a change to the status quo.
"A United States Bitcoin ETF will unleash a wave a of retail buying that will bend minds," Nik Bhatia, author of Layered Money: From Gold and Dollars to Bitcoin, commented at the weekend.
"The trade flow will obliterate available stock (supply). The harsh truth about 21 million is that there just ain’t a lotta BTC for sale."https://ift.tt/3vbUqP2
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