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  • IP token jumps 12% as Grayscale launches Story Trust

    IP token jumps 12% as Grayscale launches Story Trust

    Story IP Bullish

    • Grayscale Investments has launched the Grayscale Story Trust to offer accredited investors exposure to IP token.
    • Grayscale’s announcement saw IP price jump 12% to hit highs of $6.41.
    • Bulls could target a new all-time high.

    Grayscale Investments, the world’s leading digital asset management firm, has launched a new crypto investment product, the Grayscale Story Trust.

    The product, announced on July 31, 2025, is designed to offer accredited investors access to a digital asset product allowing for exposure to Story Network’s native token IP.

    Grayscale launches Story Trust

    On July 31, 2025, Grayscale announced the launch of its Grayscale Story Trust, a product the asset manager says will expose investors to a project set to play a key role in the global intellectual property economy. Currently, the IP economy stands at over $80 trillion.

    The Story network’s programmable IP focus aims to revolutionize the management, licensing, and monetization of intellectual property. Artificial intelligence (AI) and digital rights management are a major part of this growing market.

    “Grayscale Story Trust gives investors exposure to a protocol shaping the foundational intellectual property layer for the information and AI era,” said Rayhaneh Sharif-Askary, head of product & research at Grayscale. “That includes not just creative content, but real-world data — the force powering one of today’s most advanced intelligent systems.”

    IP price jumps 12% amid Grayscale news

    Grayscale Investments has launched over 30 crypto investment products. Story Trust is the latest offering. It expands the firm’s diverse crypto offerings. However, there’s more.

    The product also signals a pivotal moment for the integration of blockchain technology into the global IP market.

    Story (IP) could be poised to lead this transformation, a scenario that could augur well for the native token’s price.

    “The launch of Grayscale Story Trust reflects growing recognition that intellectual property, in all forms, has the potential to become one of the most important assets of the AI era. With $IP now available via a Grayscale Trust, investors can gain exposure to the infrastructure layer that enables programmable licensing and attribution across AI and creative applications,” said SY Lee, chief executive officer and co-founder of PIP Labs, a core contributor to Story.

    As the Grayscale news broke, IP price jumped 8% to hit highs of $6.35 at the time of writing.

    With sentiment bullish and altcoins looking to extend upside momentum, Story’s native token could edge towards February 2025 highs of $7.12. Currently, the token is looking at a five-month high and could allow bulls to target the all-time high of $7.33 reached on February 26.

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  • Patient Capital Management ditches Grayscale Bitcoin Trust for Bitcoin ETPs

    Patient Capital Management ditches Grayscale Bitcoin Trust for Bitcoin ETPs

    • Patient Capital Management shifts from Grayscale to Bitcoin ETPs diversify investment portfolio.
    • An updated SEC filing shows that the firm has replaced Grayscale Bitcoin Trust with Bitcoin ETPs.
    • The firm plans to allocate $200 million to Bitcoin ETPs.

    Patient Capital Management, a prominent asset management firm with $1.4 billion in assets under management, has updated its investment strategy pivoting from the Grayscale Bitcoin Trust to Bitcoin Exchange Traded Products (ETPs).

    The move reflects a significant shift in its approach to digital asset exposure.

    Patient Capital Management filling with the SEC

    Patient Capital Management made a filing with the U.S. Securities and Exchange Commission (SEC) on March 11 expanding its investment horizon by replacing its exclusive reliance on the Grayscale Bitcoin Trust.

    The firm now aims to allocate up to 15% of its net assets to Bitcoin ETPs, broadening its exposure within the rapidly evolving cryptocurrency market.

    This strategic shift is not only about diversification but also a proactive response to the changing regulatory landscape.

    The updated prospectus emphasizes “cryptocurrency regulatory risk” over “Bitcoin risk,” underlining the firm’s awareness of the evolving legal and regulatory framework governing digital assets.

    Replacing all Grayscale BTC Trust with Bitcoin ETPs

    The amendment replaces all references to the Grayscale Bitcoin Trust with mentions of Bitcoin ETPs, signifying Patient Capital Management’s departure from a single investment vehicle to a diversified approach.

    The move is fueled by a desire to stay competitive and responsive to the dynamic cryptocurrency investment landscape, where institutional players are increasingly seeking exposure through various financial instruments.

    The filing reveals Patient Capital Management’s intent to invest up to $200 million in Bitcoin ETPs, showcasing a substantial commitment to the cryptocurrency space. The firm’s decision aligns with the prevailing trend where institutional investors seek cost-effective and flexible investment options beyond traditional vehicles like the Grayscale Bitcoin Trust.

    This shift also sheds light on the fee considerations among institutional investors. While Grayscale’s Bitcoin Trust maintains an annual management fee of 1.5%, newer entrants like VanEck and Ark Invest offer lower fees, prompting asset managers like Patient Capital Management to explore more cost-efficient options in the Bitcoin ETP landscape.

    Patient Capital Management’s move comes at a time when Bitcoin ETFs have gained traction, surpassing $58 billion in total net assets within their first two months.

    The recent Bitcoin price surge to $73,000 and its elevation to the eighth-largest asset globally underscore the growing prominence of digital assets in the global financial market.

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  • First Trust seeks SEC approval for Bitcoin ‘Buffer ETF’ to safeguard investors

    First Trust seeks SEC approval for Bitcoin ‘Buffer ETF’ to safeguard investors

    • First Trust files for Bitcoin Buffer ETF with SEC, aiming to mitigate risk via options.
    • Buffer ETFs gaining momentum, 139 trading on US markets, $32.54B AUM.
    • Buffer ETFs don’t guarantee complete protection, or assess risks.

    Financial services firm First Trust has recently submitted a filing with the US Securities and Exchange Commission (SEC) to launch a groundbreaking investment product – the First Trust Bitcoin Buffer ETF.

    Unlike traditional spot Bitcoin ETFs, this innovative fund aims to provide investors with a unique risk mitigation strategy, utilizing options to safeguard against potential market downturns. Let’s delve into the details of this latest development in the cryptocurrency investment space.

    First Trust’s Bitcoin Buffer ETF filing

    First Trust’s move to file for the Bitcoin Buffer ETF signals a shift in the cryptocurrency investment landscape. This ETF is distinct from spot Bitcoin offerings, as it utilizes options to pursue a defined investment outcome. Acting as a buffer, it imposes a limit on potential losses during market drops.

    First Trust’s ETF is structured to participate in the positive price returns of the Grayscale Bitcoin Trust or other Bitcoin-related exchange-traded products (ETPs), providing investors with a unique approach to risk management.

    Rise of Buffer ETFs in the market

    Buffer ETFs have been gaining traction globally, with 139 such funds currently trading on U.S. markets, amassing a total asset under management of $32.54 billion.

    BlackRock, a major player in the ETF space, introduced its iShares buffer ETFs earlier this year. These funds offer investors a specified level of downside protection while capping potential upside gains. Analysts anticipate more entrants in this space with diverse strategies, contributing to the growing trend of innovative investment products aimed at addressing market uncertainties.

    While the concept of buffer ETFs provides a novel approach to risk management, investors must understand that these funds do not guarantee complete protection.

    First Trust’s filing emphasizes potential risks, including the risk of losing some or all invested capital. Investors should carefully evaluate the suitability of buffer ETFs for their portfolios, recognizing that these products may not be suitable for everyone, and success in providing downside protection is not guaranteed.

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  • Google eases Crypto Trust Ads Policy ahead of potential Bitcoin ETF approval

    Google eases Crypto Trust Ads Policy ahead of potential Bitcoin ETF approval

    • Starting January 29, 2024, Google will allow US-based crypto trusts to advertise on its platform.
    • Advertisers looking to promote crypto trusts must, however, undergo Google certification.
    • Google’s policy update aligns with a broader industry trend and Bitcoin’s 74% surge in the past 90 days.

    In a strategic move, Google has revised its cryptocurrency-related advertising policy to permit ads for US-based crypto trusts, aligning with predictions of the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States.

    This update, effective January 29, 2024, comes at a time of heightened anticipation in the crypto space, as industry analysts speculate a 90% chance of a US spot Bitcoin ETF approval by January 10, 2024.

    Google allows Ads for US crypto trusts

    The update explicitly mentions “advertisers offering Cryptocurrency Coin Trust targeting the United States.” Advertisers interested in promoting crypto trusts must undergo Google certification, ensuring they possess the necessary licenses from relevant local authorities. The policy emphasizes global application, requiring adherence to local laws in the targeted regions.

    This policy adjustment by Google coincides with increasing expectations of the approval of spot Bitcoin ETFs in the United States. Bloomberg’s ETF analysts project a 90% likelihood of approval by January 10, 2024.

    Notably, there are currently 13 Bitcoin ETF applicants, including major players like BlackRock, Grayscale, and Fidelity. These firms have reportedly engaged with the US Securities and Exchange Commission to discuss crucial technical details related to their ETF proposals. The crypto market has responded positively, with Bitcoin experiencing a significant 74% surge in the past 90 days.

    The crypto market is anticipated to add $1 trillion if the SEC approves the Bitcoin ETF applications.

    Certification requirements for Crypto Trust Ads on Google

    Google’s certification process for potential crypto trust advertisers underscores the importance of compliance with local laws.

    Advertisers must obtain the necessary licenses from local authorities, and their products, landing pages, and ads must align with the legal requirements of the respective countries or regions. This meticulous certification process aims to ensure responsible advertising practices within the rapidly evolving and dynamic cryptocurrency landscape.

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  • Grayscale files to convert its Ethereum Trust into a spot Ethereum ETF

    Grayscale files to convert its Ethereum Trust into a spot Ethereum ETF

    • Grayscale is seeking for SEC’s approval to convert its Ethereum Trust to an Ethereum ETF.
    • Grayscale’s Ethereum Trust manages nearly $5 billion in Ethereum assets.
    • Transition to spot ETF offers direct and regulated cryptocurrency exposure.

    Grayscale Investments, a global leader in digital asset investment, is making headlines again as it seeks approval from the US Securities and Exchange Commission (SEC) to convert its Grayscale Ethereum Trust (ETHE) into a spot Ethereum exchange-traded fund (ETF).

    The move, which is in partnership with NYSE Arca, marks a significant step toward bringing cryptocurrencies further into the mainstream financial landscape.

    Grayscale’s Ethereum Trust

    Grayscale’s Ethereum Trust (ETHE) currently stands as the world’s largest Ethereum investment product, boasting a substantial $5 billion in assets under management. The trust gives investors exposure to Ethereum, one of the leading cryptocurrencies, by holding Ethereum on their behalf.

    However, the proposed conversion into a spot ETF would change the game.

    The rising appetite for crypto ETFs

    A spot ETF represents a more direct approach to cryptocurrency investment compared to trusts that rely on futures contracts.

    In a spot ETF, investors own the underlying asset itself, in this case, Ethereum, rather than futures contracts. This approach offers increased transparency and security for investors, making it an attractive option for those seeking to participate in the crypto market with regulatory oversight.

    Grayscale’s forays into crypto Investment

    Michael Sonnenshein, the CEO of Grayscale Investments, expressed the company’s commitment to providing traditional investment products with cryptocurrency exposure.

    Grayscale Investments is no stranger to the SEC, having recently won a legal battle that may shape the future of cryptocurrency ETFs. The ruling provided essential guidelines for how regulators should handle forthcoming crypto ETF applications, setting the stage for further developments in the cryptocurrency industry.

    As the cryptocurrency market continues to evolve, Grayscale’s application for an Ethereum spot ETF represents another milestone in the integration of cryptocurrencies into mainstream finance. If approved, it would join the Purpose Bitcoin ETF, which gained approval earlier this year, in offering a regulated and direct path for investors to access digital assets.

    The development could attract more institutional capital and enhance market liquidity, paving the way for a new era in cryptocurrency investment.

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  • BitGo and Swan partner to launch a Bitcoin-only trust company

    BitGo and Swan partner to launch a Bitcoin-only trust company

    Key takeaways

    BitGo and Swan to launch a new trust company

    Crypto custodian BitGo and bitcoin financial services firm Swan have announced plans to launch a Bitcoin-only trust company. 

    According to the press release published on Thursday, the Bitcoin-only trust company will offer custody without exposure to other digital currencies. The trust, which will be launched following regulatory approval, will combine BitGo’s custody capabilities with Swan’s expertise in fraud prevention and onboarding. 

    The companies said it would be the first Bitcoin-only trust company in the United States. BitGo CEO Mike Belshe said, 

    “We believe the best model for the Bitcoin industry is the same battle-tested model that has been part of the US financial industry for over a century: the separation of exchange and custody. Our teams have worked closely together for nearly a year on stronger qualified custody models. Early in 2023, we recognized the opportunity to establish a Bitcoin-only custodian, combining the unique capabilities of each company and supporting the innovators that will be at the forefront of pushing Bitcoin adoption.”

    BitGo remains a leading custodian in the crypto space

    This latest cryptocurrency news comes as BitGo continues to expand its presence in the cryptocurrency space despite the ongoing bear market. BitGo is one of the custodians Swan hired for its Bitcoin storage needs. 

    Cory Klippsten, Swan’s CEO, also commented that;

    “We immediately saw the vision,” said Cory Klippsten, Swan’s CEO. “For years, we’ve heard from major clients, partners, and other Bitcoin companies that they would prefer a Bitcoin-only software and services stack that is focused strictly on the best custody that leverages Bitcoin’s unique features. It’s important to us to build a custodian without the risks of securing many altcoins within the same trust company as Bitcoin. We want to do our part to build a dedicated ecosystem for Bitcoin, separate from industry speculators, to allow for innovation in custodial offerings.”

    This latest development comes a few days after South Korean Hana Bank and BitGo announced a partnership to launch a joint crypto custody venture. The joint venture will combine Hana Bank’s knowledge of financial services and compliance with BitGo’s crypto custodial solutions.

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  • Why has the Grayscale Bitcoin Trust discount hit an all-time high?

    Why has the Grayscale Bitcoin Trust discount hit an all-time high?

    Key Takeaways

    • Grayscale is the largest Bitcoin fund in the world
    • Discount to underlying asset (Bitcoin) has reached record levels, breaching 50%
    • Concern about reserves, higher fees and other hurdles explain the discount, which likely won’t close anytime soon

     

    The discount to net asset value of the Grayscale Bitcoin trust is at all-time highs. The discount briefly pushed past 50%, before pulling back slightly to where it currently sits at 48.8%.  

    This comes off the back of the SEC reaffirming its reasons for denying Grayscale’s application to convert the trust into an exchange-traded fund.

     The Grayscale Bitcoin Trust is the largest Bitcoin fund in the world, but it has rarely traded at the same level as its underlying asset, Bitcoin. The above chart shows that it had, until this year, traded at a premium since its launch compared to Bitcoin.

    This fund allows accredited investors to gain exposure to Bitcoin without worrying about storing or managing their holdings. It previously traded at a premium as demand for shares surged, with institutions wanting Bitcoin exposure. This convenience does come at a fee, however – and a rather hefty one at 2%.

    Demand falls for Grayscale in 2022

    Since March, the Grayscale shares have been trading at a discount to Bitcoin. The fund has $10.7 billion in assets under management, a stark 65% fall in the last year, reflecting the bloodbath in the crypto markets.

    But the discount to Bitcoin means shareholders are getting hit twice as hard.

    “The fact that Grayscale’s Bitcoin Trust is now trading at nearly 50% discount is just awful for holders of GBTC. It really highlights the vast differences in structure quality between different investment vehicles,” Bradley Duke, co-CEO at ETC Group, told CoinDesk last week.  

    A decline in inflows has been borne out of greater competition as many competitive funds have launched, especially in Europe, as well as multiple filings for Bitcoin ETFs in the US. The discount is also because investors have no way to redeem their holdings for Bitcoin in the trust, but all the while are being charged a 2% fee.

    However, these factors have typically been dulled by arbitrage traders taking advantage of the dichotomy in prices. But happenings this year have reduced that, too.

    Concern about Grayscale’s reserves

    Over the last month, concern has swelled in the market that Grayscale’s parent company, Digital Currency Group (DCG) may file for bankruptcy. This is due to the issues surrounding crypto broker Genesis, whose parent company is also DCG.

    Genesis have denied they will imminently file for bankruptcy, but the firm was caught up in the FTX collapse and is currently undergoing restructuring. Genesis halted withdrawals on November 15th.

    This concern has been elevated by questions around Grayscale’s reserves. Namely, whether they are true to their word and are holding all the underlying Bitcoin securely. With many major crypto companies publishing proof of reserves in the aftermath of the FTX crisis in order to assuage customer fear, Gray scale refused.

    “Due to security concerns, we do not make such on-chain wallet information and confirmation data publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure,” Grayscale wrote in a statement.

    As I wrote at the time, I really can’t fathom how security concerns are a factor here. The blockchain is built so that this kind of information is available to the public.

    Final thoughts

    All in all, the discount sums up investors’ concern around Grayscale, as well as the extra fees and other hurdles which exist compared to owning the underlying. Arbitrage trades are self-destructive by nature, and hence it is notable that the discount is so large and has persisted for so long.

    Then again, there is risk here, as the same thing which I have been writing about for a while now – a lack of transparency – means that it cannot be known for 100% certainty what is going on behind the scenes. And that is why we are seeing a 50% discount.

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  • Trust Wallet Token (TWT/USD) – a cryptocurrency with 100% gains, but are higher prices possible?

    Trust Wallet Token (TWT/USD) – a cryptocurrency with 100% gains, but are higher prices possible?

    Trust Wallet Token (TWT/USD) has been the darling of investors this week. The token’s value has gained by triple digits in the past week, even as others soured over the weak crypto sentiment. If you have been wondering, the same reason that caused the decline of cryptocurrencies boosted TWT.

    The collapse of the FTX crypto exchange sent panic waves across crypto markets. With accelerated selloffs, over $1 billion was wiped out from the market. That’s because the collapse of a “sound” crypto exchange of the stature of FTX was least expected. At least not after the exchange positioned itself to help other struggling crypto firms to remain above the ground. But it happened, anyway, but TWT buyers had something to smile about.

    TWT hit an intraday high of $274 on November 14. The level was hit in a parabolic price move, as TWT overcame a low price of $1.0 as of November 10. The gains happened as whale accumulation intensified following the collapse of FTX. Investors were withdrawing funds from centralised exchanges in favour of self-custody wallets. The Trust Wallet gained in the process, with Changpeng Zhao also endorsing its post-FTX collapse.

    TWT price outlook and analysis

    Turning to the technical side, TWT has already been making slight but positive gains even before the FTX collapse. The latest cryptocurrency news just gave the token the catalyst to break above the $1.31 resistance level. 

    TWT/USD Chart by TradingView

    The moving averages are bullish for TWT. Turning to the RSI, TWT is deep in the overbought region. An imminent correction is likely, and a bubble burst could occur. The token is already initiating a correction and trades at $2.0.

    Time to exit TWT?

    Overbought conditions and a bubble burst could force a correction for TWT as investors adjust to the FTX scenario. 

    However, the price movement is positive for TWT as it has been making a slow bullish push before. The token should be on the investor’s watch list if bulls defend the key levels. The area around $1.36 and $1.31 should be watched.

    Where to buy TWT

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy TWT with Binance today

    Swapzone

    Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.


    Buy TWT with Swapzone today

     

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