Grayscale Bitcoin Trust discount to Bitcoin net asset value has fallen to under 16%, its lowest since December 2021.
Some analysts say GBTC’s discount is narrowing because investors are pricing in the SEC’s approval on several pending spot Bitcoin ETF applications.Grayscale’s Bitcoin investment vehicle, Grayscale Bitcoin Trust is trading at its lowest discount in nearly two years, as spot Bitcoin ETFs continue to inch toward potential approval in the United States.Discount to net asset value is a percentage that measures the amount that a mutual fund or ETF is trading below its net asset value.
Grayscale's Bitcoin Trust, commonly known as GBTC, has experienced notable changes in its market dynamics. At the start of this year, GBTC was trading at a significant discount of 48.31%…ETF filings changed the Bitcoin narrative overnight — Ledger CEO On Oct. 15, Grayscale reportedly delivered a statement noting that the SEC’s 45-day period to seek a rehearing had passed, meaning the court would issue its “final mandate” within seven calendar days.
"The Grayscale team remains operationally ready to convert GBTC to an ETF upon the SEC’s approval, and we look forward to sharing more information as soon as practicable," the company reportedly said. “The Federal Rules of Appellate Procedure’s 45-day period to seek rehearing has now passed. The Court will now issue its final mandate within seven calendar days. The Grayscale team remains…Meet the guerilla artist who staged a crypto ‘rug pull’ in front of the SEC
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