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Grayscale Bitcoin Trust Discount Narrows As Market Anticipates Bitcoin Spot ETF Approval

Grayscale Bitcoin Trust (GBTC) is currently trading at its lowest discount in almost two years, with the discount to Bitcoin net asset value (NAV) narrowing to 15.87% as of Oct. 13. This comes as spot Bitcoin ETFs move closer to potential approval in the United States, with BlackRock and other financial institutions filing spot Bitcoin ETF applications in mid-June. Analysts believe that GBTC's discount will continue to narrow as spot Bitcoin ETFs near approval, with some predicting that the discount will "evaporate" over the next week or two. Grayscale has stated that they remain operationally ready to convert GBTC to an ETF upon SEC approval.

Bitcoin Bitcoin $67,183.28
+1.21%
Bitcoin ETF GBTC Grayscale
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