ETFStore President Nate Geraci shared data showing that the discount rate of Grayscale Bitcoin Trust Fund GBTC has narrowed significantly from about 43% in June this year to a “relatively optimistic” 16.5%. It is reported that the fluctuation of this indicator is widely regarded as the market’s response to spot prices. One indicator of changing confidence that a Bitcoin ETF could be approved.
Due to the lack of ETF options, many people choose GBTC as a channel to gain exposure to Bitcoin. However, GBTC’s large discount is due to a variety of factors. Historically, GBTC has traded at a higher price, but as competition intensifies and Bitcoin The prospect of a Bitcoin ETF has become more realistic, and the trust fund has begun trading at a discount. Analysts believe that the U.S. Securities and Exchange Commission may gradually approve a spot Bitcoin ETF.
