Grayscale GBTC discount falls to 16% as SEC misses ETF appeal window
The post Grayscale GBTC discount falls to 16% as SEC misses ETF appeal window appeared on BitcoinEthereumNews.com. The evolving world of crypto is realizing new investment opportunities. Grayscale Bitcoin Trust (GBTC) is among the favored firms for traditional investors seeking to invest in digital assets. Recent events in the digital market have shown that GBTC’s discount to its net asset value (NAV) has reduced by close to 16%. The discount fall comes in as the US Securities and Exchange Commission (SEC) missed its ETF appeal window. The market is now in a buzz, anticipating the Bitcoin Exchange-Traded Fund (EFT). Moreover, this has also shocked the entire crypto community as GBTC is employed in bridging the gap between traditional finance and the digital world. Moreover, Bitcoin Exchange -Traded Funds (ETFs) approach full approval in the US. Current news on Grayscale GBTC Currently, the investment vehicle Grayscale Bitcoin Trust (GBTC) is trading at its lowest discount in the last 2 years. According to the YChart data of 13th October GBTC against Bitcoin’s NAV was leveled at 15.87%. The percentage measures the sum of mutual funds (ETF) that is now trading lower than its net asset value (NAV). The primary role of this is to track the metrics of how far a security is trading from its value. The discount reduction was witnessed when financial institutions and BlackRock filed to onboard Bitcoin ETFs in mid-June 2023. The discount dropped by 17.3% from June 15 to July 5. This was a recorded drop from 44% to 26.7%. A similar drop was recorded in December 2021 when Bitcoin peaked at its all-time high of $69,000 on November 10. The current drop to 15% is a near 2-year low on Friday, and this is in the past 22 months. Additionally, the discount has been dropping, recording a nearly 50% reduction since the beginning of the bear market late last year, from December. The…
The post Grayscale GBTC discount falls to 16% as SEC misses ETF appeal window appeared on BitcoinEthereumNews.com.
The evolving world of crypto is realizing new investment opportunities. Grayscale Bitcoin Trust (GBTC) is among the favored firms for traditional investors seeking to invest in digital assets. Recent events in the digital market have shown that GBTC’s discount to its net asset value (NAV) has reduced by close to 16%. The discount fall comes in as the US Securities and Exchange Commission (SEC) missed its ETF appeal window. The market is now in a buzz, anticipating the Bitcoin Exchange-Traded Fund (EFT). Moreover, this has also shocked the entire crypto community as GBTC is employed in bridging the gap between traditional finance and the digital world. Moreover, Bitcoin Exchange -Traded Funds (ETFs) approach full approval in the US. Current news on Grayscale GBTC Currently, the investment vehicle Grayscale Bitcoin Trust (GBTC) is trading at its lowest discount in the last 2 years. According to the YChart data of 13th October GBTC against Bitcoin’s NAV was leveled at 15.87%. The percentage measures the sum of mutual funds (ETF) that is now trading lower than its net asset value (NAV). The primary role of this is to track the metrics of how far a security is trading from its value. The discount reduction was witnessed when financial institutions and BlackRock filed to onboard Bitcoin ETFs in mid-June 2023. The discount dropped by 17.3% from June 15 to July 5. This was a recorded drop from 44% to 26.7%. A similar drop was recorded in December 2021 when Bitcoin peaked at its all-time high of $69,000 on November 10. The current drop to 15% is a near 2-year low on Friday, and this is in the past 22 months. Additionally, the discount has been dropping, recording a nearly 50% reduction since the beginning of the bear market late last year, from December. The…
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