GBTC charges forward, 33% discount marks narrowest gap in over a year

quick take

  • Grayscale Bitcoin Trust (GBTC)’s discount to NAV continues to shrink and is currently at -33%. This is the narrowest level in the past year and reflects a potentially encouraging trend.
  • GBTC showed remarkable strength, up 137% year-to-date. Notably, it has surged 50% since June 16, which coincided with the BlackRock ETF’s first filing, a significant increase.
  • The BlackRock ETF’s subsequent filings were followed by a wave of institutional investors’ filings, further stirring up market dynamics.
  • Barry Silbert, founder of Grayscale’s parent company, Digital Currency Group (DCG), has made it easier by continuing to charge a 2% administration fee on the bitcoins held in the fund. I feel I am in a position.
  • according to K33 researchA “DC Opinion” on the ongoing Grayscale v. SEC lawsuit is likely to be released sometime between June and November of this year.
GBTC: (Source: Trading View)
ETF Timeline: (Source: K33 Research)
ETF Timeline: (Source: K33 Research)

Charge forward after GBTC, 33% discount marks narrowest gap in over a year First appeared on CryptoSlate.

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