Core Insights - Grayscale Bitcoin Trust (GBTC) has been a significant vehicle for institutional investors seeking indirect exposure to Bitcoin prior to the approval of Bitcoin ETFs in the U.S. [1] - Grayscale Investments has been a pioneer in linking traditional finance (TradFi) with cryptocurrency, allowing institutions to invest in crypto without managing private keys directly [3] - Grayscale is planning to go public with an IPO, having filed with the SEC to list on the NYSE under the ticker GRAY [5][6] Group 1: Grayscale's Investment Products - Grayscale offers a variety of investment products, including the Grayscale Bitcoin Cash Trust (BCHG) and the Grayscale Ethereum Classic Trust (ETCG), which manage over $191 million and $157 million in assets respectively [2] - The Grayscale Digital Large Cap Fund and the Grayscale DeFi Fund are examples of diversified and thematic funds offered by Grayscale [4] Group 2: IPO Structure and Control - The IPO is structured as an "Up-C" transaction, allowing Grayscale to convert from a private to a public company while DCG retains 70% of voting power through Class B shares [6] - Class B shares will not have economic power, meaning they will not earn dividends, which designates Grayscale as a "controlled company" under NYSE rules [6] Group 3: Underwriters - The lead underwriters for Grayscale's IPO include Morgan Stanley, BofA Securities, Jefferies, and Cantor [7]

RT Bybit Plus (@BybitPlus)Did someone say dip? 👀Share your favorite TradFi trade (with proof!) and your go-to meal.The Bybit Cat’s hungry for market moves and your favorite snacks.💰 5 lucky winners will each win 100 $USDT! https://t.co/96Is8v9sxM ...

RT Bybit Plus (@BybitPlus)Did someone say dip? 👀Share your favorite TradFi trade (with proof!) and your go-to meal.The Bybit Cat’s hungry for market moves and your favorite snacks.💰 5 lucky winners will each win 100 $USDT! https://t.co/96Is8v9sxM ...

RT CoinDesk (@CoinDesk)🔗 SmartCon with @chainlink was one of the most consequential crossovers of TradFi, policy, and DeFi yet.Here’s our quick recap: TradFi → crypto, lessons crypto can take from TradFi, and what smarter regulation could look like.Already excited for next year 🤝 https://t.co/S6Nr4fDFc0 ...

Event Overview - SmartCon was a significant intersection of Traditional Finance (TradFi), policy, and Decentralized Finance (DeFi) [1] TradFi & Crypto - The event facilitated the crossover from TradFi to crypto [1] - Explored lessons the crypto industry can learn from TradFi [1] Regulation - Discussed what smarter regulation in the crypto space could look like [1]

DeFi Innovation & User Benefits - DeFi platforms like DefiLlama offer yield on customer deposits, unlike traditional finance (TradFi) annual subscriptions where unused portions typically don't generate yield [1] - DefiLlama treats customer deposits as accrued liabilities and provides yield, effectively offering users the equivalent of a free month [1] - These small benefits compound over time, creating a competitive advantage for decentralized systems [1] Crypto & Decentralization - Crypto highlights hidden costs or benefits extracted by TradFi [1] - The future is decentralized, with on-chain solutions becoming more attractive to users [1] - Small benefits in DeFi will encourage more users to adopt on-chain solutions [1]

DeFi Innovation & User Benefits - DeFi platforms like DefiLlama offer yield on customer deposits, treating them as accrued liabilities, unlike traditional finance (TradFi) [1] - This practice provides users with benefits equivalent to a free month, incentivizing on-chain activity [1] - Small benefits compound over time, creating a competitive advantage for decentralized systems [1] Industry Outlook - The crypto industry highlights hidden costs or benefits extracted by TradFi [1] - Decentralization is the future, driven by user-centric features and benefits [1]

Partnerships & Integrations - Mantle 通过 Anchorage Digital 的托管支持，与 Bybit 和 Byreal 形成无缝连接，构建 CEX、DEX 和高性能网络的三方联动 [1] Strategic Goals - 行业旨在赋能机构，扩大市场深度，并加速链上采用 [1] Technological Advancement - 这种三方联动不仅仅是托管，更是为了推动整个行业向前发展 [1]

RT Crypto In America (@CryptoAmerica_)🚨NEW: This week, we sat down with @John1wu, President of @AvaLabs, to discuss how regulatory shifts in the U.S. are shaping the future of crypto innovation and why onshoring development matters.We cover market structure updates in DC, real-world adoption, and tokenization, along with @avax’s growing list of enterprise partnerships including the Cleveland Cavaliers, FIFA World Cup, the California DMV, and state initiatives like the Wyoming Stablecoin (FRNT) and New Jerse ...

Crypto Yields & TradFi Comparison - Crypto 收益正在赶上 TradFi (传统金融) [1] - TradFi 中有 55-65% 的资产具有被动收益，而 Crypto 中只有 8-11% 的资产具有被动收益 [1] Staking & RWAs - Staking (质押) + RWAs (现实世界资产) 正在引领 Crypto 收益增长 [1] LSTs Traction - Ether (以太坊) 和 Solana (索拉纳) 的 LSTs (流动性质押代币) 获得关注 [1]