Apr 25th 2022
The discount of Grayscale’s bitcoin trust is narrowing
GBTC’s discount has narrowed slightly in the last month. Are traders positioning themselves for a positive outcome of Grayscale’s ETF filing, or are we just experiencing more rational pricing?
Source: Skew
By July 6th, Grayscale will receive the final verdict from the SEC regarding Grayscale’s filing aiming to convert its close-ended BTC trust to an ETF.
Already, ten physical ETF filings have been denied by the SEC so far since VanEck received its verdict in November. It seems likely that Grayscale will face a similar destiny, given no material changes in neither market structure nor regulation since ARK’s and Fidelity’s denials earlier this year.