Posted 11/24/2023, 5:30:00 PM
GBTC Discount Narrows on Optimism for Bitcoin Spot ETF Approval After Grayscale SEC Meeting
- GBTC discount reached narrowest point since July 2021 at 8.6% on Friday due to optimism around potential bitcoin spot ETF approval
- Fund has traded at a discount since Feb 2021, hitting record lows of nearly 50% discount in Dec 2021
- Narrowing likely prompted by Grayscale’s updated filings and reported SEC meeting this week
- Grayscale met with SEC this week to discuss details of converting GBTC into an ETF
- Grayscale entered agreement with BNY Melon to act as transfer agent and service agent for GBTC