GBTC Discount Narrows | Hopes For ETF Approval

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…

Read more on bitcoinnews

20.2K Reads