Bitcoin Cash

Bitcoin

Million

<div class="watcher-guru"> 
 <p>On the heels of an encouraging ruling in the Grayscale-SEC case, Bitcoin’s value rose to $28,143. At press time, the asset was up by roughly 6% on the daily timeframe. However, its forked version, <a rel="dofollow" title="Bitcoin Cash" href="https://thebittimes.com/tag/bitcoin-cash.html">Bitcoin Cash</a>, registered a 16% rally.</p> 
 <p>Likewise, Grayscale’s Bitcoin Cash Trust [BCHG] also outstripped the investment management company’s apex trust, GBTC, on the price front. Shares in the former investment vehicle rallied by 18.05%, while those in the latter only rose by 16.95%. Other trusts involving altcoins also had a green day but failed to perform better than GBTC. Ether and Stellar-associated trusts, ETHE and GXLM, rose up by 12.3% and 14% respectively.</p> 
 <div class="wp-block-image"> 
  <figure class="aligncenter size-full">
   <img decoding="async" width="543" height="305" src="https://cdn.thebittimes.com/images/2023/08/30/057e3c8bfc03143c298a6be52af29bce.webp" alt="" class="wp-image-109496" srcset="https://cdn.thebittimes.com/images/2023/08/30/057e3c8bfc03143c298a6be52af29bce.webp 543w, https://cdn.thebittimes.com/images/2023/08/30/057e3c8bfc03143c298a6be52af29bce.webp 300w, https://cdn.thebittimes.com/images/2023/08/30/057e3c8bfc03143c298a6be52af29bce.webp 380w" sizes="(max-width: 543px) 100vw, 543px">
   <figcaption class="wp-element-caption">
    Source: The Block
   </figcaption>
  </figure>
 </div> 
 <p><strong>Also Read: Bitcoin Derivatives Volume Rises to $1.4 Million</strong></p> 
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div> 
 </div> 
 <h3 class="wp-block-heading" id="h-grayscale-bch-share-price-rises-to-1-57">Grayscale BCH Share Price Rises to $1.57</h3> 
 <p>Grayscale <a rel="dofollow" title="BCH" href="https://thebittimes.com/tag/bch.html">BCH</a> shares last traded at $1.57. Meanwhile, <a rel="dofollow" title="BCH" href="https://thebittimes.com/tag/bch.html">BCH</a> was priced at $218.14 at press time. This means <a rel="dofollow" title="BCH" href="https://thebittimes.com/tag/bch.html">BCH</a>G is providing investors exposure to <a rel="dofollow" title="Bitcoin Cash" href="https://thebittimes.com/tag/bitcoin-cash.html">Bitcoin Cash</a> for merely $0.00719 on the dollar. </p> 
 <figure class="wp-block-image size-full">
  <img decoding="async" width="765" height="372" src="https://cdn.thebittimes.com/images/2023/08/30/9696161b28c040994ab45379b763a291.webp" alt="" class="wp-image-109505" srcset="https://cdn.thebittimes.com/images/2023/08/30/9696161b28c040994ab45379b763a291.webp 765w, https://cdn.thebittimes.com/images/2023/08/30/9696161b28c040994ab45379b763a291.webp 300w, https://cdn.thebittimes.com/images/2023/08/30/9696161b28c040994ab45379b763a291.webp 380w, https://cdn.thebittimes.com/images/2023/08/30/9696161b28c040994ab45379b763a291.webp 550w" sizes="(max-width: 765px) 100vw, 765px">
  <figcaption class="wp-element-caption">
   Source: Grayscale
  </figcaption>
 </figure> 
 <p><strong>Also Read: CBDCs: 130 Countries Controlling 98% GDP are Exploring e-Currencies</strong></p> 
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div id="primisContainer" class="add"></div> 
 </div> 
 <p>The share value is heavily discounted when compared to the spot market price of the crypto asset. So, should investors accumulate <a rel="dofollow" title="BCH" href="https://thebittimes.com/tag/bch.html">BCH</a> shares from the Grayscale Trust? At the moment, there is significant room for <a rel="dofollow" title="BCH" href="https://thebittimes.com/tag/bch.html">BCH</a>G to glide up. During the May 2021 rally, the shares rose up to $40. That figure is roughly 25 times the current price. Thus, entering at this stage could prove fruitful for investors over the long term.</p> 
 <p>The latest court decision was just the trailer, yet significant pumps were registered by both BTC and <a rel="dofollow" title="BCH" href="https://thebittimes.com/tag/bch.html">BCH</a>. Several from the industry, including Bernstein, believe that this victory has cleared the path for spot Bitcoin ETFs in the U.S. So when an actual approval decision is eventually made, <a rel="dofollow" title="BCH" href="https://thebittimes.com/tag/bch.html">BCH</a> will likely tag along with BTC and end up rallying, retrospectively making the environment more favorable for <a rel="dofollow" title="BCH" href="https://thebittimes.com/tag/bch.html">BCH</a>G’s share price to glide up further.</p> 
 <p>However, these hype pumps could also be speculative in nature and serve as traps. Thus, investors need to exercise caution and evaluate risks before diverting funds or taking any other investment call. </p> 
 <p><strong>Also Read: Argentina is Adopting Bitcoin Faster than El Salvador: Ark Invest</strong></p> 
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div> 
 </div> 
 <p></p> 
</div> 
<div class="cs-entry__tags">
 <ul>
  <li>BCH</li>
  <li>bchg</li>
  <li>bitcoin</li>
  <li>Bitcoin Cash</li>
  <li>btc</li>
  <li>GBTC</li>
  <li>GrAYSCALE</li>
 </ul>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/grayscale-investors-can-get-exposure-to-bitcoin-cash-at-merely-0-007-tbt60916.html">https://thebittimes.com/grayscale-investors-can-get-exposure-to-bitcoin-cash-at-merely-0-007-tbt60916.html</a></p>

Grayscale Investors Can Get Exposure to Bitcoin Cash At Merely $0.007

Table of Contents

TheBitTimes

Other articles published on Aug 30, 2023

Michael Jordan is now worth $3.5B, richer than the entire NFT market

Recognize and Associate with Best AI Tools To Facilitate Business

Onchain data: 96% of APE holders are in red

Thousands of Bitcoin (BTC) Acquired by Insiders Just Before Epic Grayscale v. SEC Ruling

Top DAOs and Navigating Tools: Enabling Collective Governance in the Crypto World

Navigating the Crypto Landscape with Linity: Your Trusted Guide to Web 3.0 Opportunities

Join our free newsletter for daily crypto updates!