Analyst James Seyffart, BlacHe suggested that kRock’s spot Bitcoin (BTC) exchange-traded fund (ETF) could put pressure on Grayscale’s similar product, the Grayscale Bitcoin Trust (GBTC).
Bloomberg Intelligence analyst James Seyffart a recent on the airBlackRock’s spot Bitcoin ETF Grayscale operations outlined its possible consequences.
ETF application by world’s largest asset manager Blackrock can change the conditions of competition highlighting the analyst Grayscale Bitcoin Trust (GBTC) He stated that the investment instrument should adapt itself according to the new game conditions.
At this point, Seyffart’s biggest pillar is GBTC, an over-the-counter market. (OTC) product while serving as an approved spot ETF he came across with it.
Grayscale’s Bitcoin-specific OTC product on the national stock exchange Reminding that there is no ETF traded, the analyst also mentioned the current negative returns of this situation. Via OTC under current conditions GBTC And Serious price differences between Bitcoin price from time to time He underlined that investors may have to pay extra transaction fees for this product in many cases.
On the other hand, BlackRock’s ETF application US Securities and Exchange Commission (SEC) If approved by, this product will cost more than Bitcoin. proportional, lower paid And better liquidity will have the opportunity. In this scenario, in order for Grayscale to survive against its rivals, either Get spot ETF approval from SEC or reduce service costs will need.
Although the allegations in the middle paint a pessimistic picture for the future of GBTC, for now BlackRock, WisdomTree And Invesco Applications made by GBTC seem to have a positive impact on GBTC.
According to current data, GBTC fund volume and priceafter BlackRock’s EFT application significant increase lived.