Grayscale Bitcoin Trust aims for ETF shift to narrow discount

Grayscale, a significant player in digital asset management, has expressed enthusiasm about the potential transformation of its Grayscale Bitcoin Trust (GBTC) into a Bitcoin ETF. This move could eliminate the current 8.09% discount of approximately $1.89 billion, aligning GBTC’s price more closely with the actual value of Bitcoin, offering significant benefits for investors.

The company’s chief legal officer, Craig Salm and chief financial officer, Edward McGee, revealed the details. Pending approval from the United States Securities Exchange Commission, GBTC is set to transition from its current platform, OTCQX, to the esteemed NYSE Arca exchange. This move seeks to better…

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