Euphoria

Bitcoin

Grayscale Bitcoin Trust

<ul class="news-points"> 
 <li>Grayscale Bitcoin Trust (GBTC) discount is 10.35% at press time.</li> 
 <li>The improved discount level coincides with the flagship crypto’s recent rally.</li> 
 <li>There are indications that the shrinking discount connects to the anticipated ETF launch.</li> 
</ul> 
Data from <a href="https://ycharts.com/companies/GBTC/discount_or_premium_to_nav" target="_blank" rel="noreferrer noopener nofollow">YCharts</a>, a financial research and analysis platform, shows that the <a href="https://coinedition.com/investors-are-pricing-in-the-spot-bitcoin-etf-approval-expert/">Grayscale Bitcoin Trust (GBTC)</a> discount is at 10.35%, a level it has not reached since July 2021. The improved discount level coincides with the flagship crypto’s recent rally, which saw BTC move close to $38,000 for the first time in 18 months. 
There are indications that the shrinking GBTC discount connects to the anticipated launch of a spot Bitcoin ETF. In a recent development, the U.S. Securities and Exchange Commission (SEC) reportedly <a href="https://www.coindesk.com/policy/2023/11/08/us-sec-said-to-open-talks-with-grayscale-on-spot-bitcoin-etf-push/?_gl=1*1l13fin*_up*MQ..*_ga*OTEyNzQ0NjQwLjE2OTk4ODM4NjU.*_ga_VM3STRYVN8*MTY5OTg4Mzg2NC4xLjAuMTY5OTg4Mzg2NC4wLjAuMA.." target="_blank" rel="noreferrer noopener nofollow">initiated discussions</a> with Grayscale Investment about converting the company’s Bitcoin trust to a spot Bitcoin ETF.&nbsp; 
Data from <a href="https://terminal.bytetree.com/bitcoin/flows" target="_blank" rel="nofollow">ByteTree</a>, a platform for financial investment content, shows that the number of Bitcoins held by funds has reached a record high of over 865,000 BTC. This coincides with the growing enthusiasm among investors over the lik…
The post <a href="https://coinedition.com/grayscales-discount-squeezes-amid-growing-etf-approval-euphoria/">Grayscale’s Discount Squeezes Amid Growing ETF Approval Euphoria</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Grayscale’s Discount Squeezes Amid Growing ETF Approval Euphoria

Coin Edition

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