Grayscale Bitcoin Trust (GBTC) shares are worth 50% less than the price of bitcoin for the first time in history.
Grayscale Bitcoin Trust, managed by Grayscale Investments, started to lose value again after the statements made by the US Securities and Exchange Commission (SEC).
Grayscale filed with the SEC after rejecting its application to convert GBTC into an exchange-traded fund (ETF). sued. SEC officials submitted a document to the court, emphasizing that they still stand behind the rejection decision.
Total under the management of the Grayscale Bitcoin Trust $10.8 billion worth of assets. The size of the fund has been in the past 12 months. More than 65% shrinkage showed.
The difference between GBTC stocks and bitcoin price exceeded 50% for the first time today. This rate started to decrease during the day and GBTC shares are now about 49.1% compared to bitcoin. in discount condition.