The discount on Grayscale Bitcoin Trust (GBTC) shares has narrowed to its lowest point in over two years, sitting at -8.69% at the moment of writing. This reduction in GBTC discount comes amid growing expectations that the U.S. Securities and Exchange Commission (SEC) will approve the conversion of GBTC into a Spot Bitcoin Exchange Traded Fund (ETF).

GBTC discount/premium chart compared to Net Asset Value (NAV) — Ycharts.com

Despite Ark Invest’s important recent sell-off of GBTC shares, Grayscale Bitcoin Trust continues its relentless climb towards breakeven at net asset value (NAV).

What is Grayscale Bitcoin Trust?

The Grayscale Bitcoin Trust (GBTC) is a…

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