The discount rate of the GBTC fund of the cryptocurrency-focused investment company Grayscale fell to the lowest level in the last 2 years after the SEC did not object to the case.
U.S. Court of Appeals for the Federal Circuit, Grayscale GBTC fund ETFThe application for conversion to the U.S. Securities and Exchange Commission (SEC) He justified Grayscale in the lawsuit he filed after the rejection. He found it. This spot Bitcoin ETF to the decision for SEC’s upon not objecting GBTC The premium rate of the fund is almost lowest in 2 years fell to the level.
Grayscale Bitcoin Trust (GBTC) net asset value (NAV), By market close on Friday December of 2021 for the first time since 15.87% to 16% traded below the discount rate.
According to data from The Block, in the GBTC fund, in 2021 It has been bought and sold at a discount since the bear market that started. But before always at higher price had been sold.
GBTC discount rate in June BlackRock And Fidelity investment giants such as spot Bitcoin ETF applications started to decrease. GBTC on June 15 44% off While trading on July 5 It was finding buyers at a 26.7% premium.
At the discount rate in question the decline Grayscale’s share of the cryptocurrency marketPot Bitcoin ETF will receive approval It was interpreted that the belief in this issue increased.
Bitcoin advocate Oliver Velez in sharinga spot by the end of the year Bitcoin ETFHe said that it would be approved and that it was priced.
GBTC to investors without direct ownership Investing in Bitcoin offers the opportunity. The fund physically purchases and stores Bitcoins. By purchasing this fund, investors Investing in Bitcoin indirectly is doing.