GBTC Discount Continues to Shrink as Bitcoin ETFs Move Closer to Reality

Grayscale Bitcoin Trust (GBTC) – the world’s largest Bitcoin fund – reached its lowest point in 22 months last Friday. The decline in the discount has sparked optimism as spot Bitcoin exchange-traded funds (ETFs) in the United States are moving closer to becoming a reality. This comes as the SEC passed the deadline to appeal against Grayscale’s attempt to convert its GBTC fund into a spot bitcoin ETF. According to the latest data by YCharts, Grayscale Bitcoin Trust (GBTC) shares were traded at a 15.87% discount on October 13th, compared to the trust’s net asset value (NAV), a level not seen since December 2021, only a month after Bitcoin’s price peaked near $69,000.

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