Grayscale Bitcoin Trust’s ‘GBTC Discount’ Narrows With ETF Decision on Horizon

Grayscale Bitcoin Trust’s ‘GBTC Discount’ Narrows With ETF Decision on Horizon

Grayscale (whose parent company Digital Currency Group also owns CoinDesk) has applied to convert the GBTC into an exchange-traded fund, or ETF. And for months, some traders have been monitoring the discount as a proxy for the likelihood of winning approval. According to the market logic, the GBTC would trade at par with the underlying bitcoin in the fund if the conversion goes forward; in other words, the discount would evaporate.

Originally Posted on: https://www.coindesk.com/markets/2022/06/24/grayscale-bitcoin-trusts-gbtc-discount-narrows-with-etf-decision-on-horizon/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Lyllah Ledesma

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