Bitcoin

<div class="code-block code-block-3" style="margin: 8px 0; clear: both;"> 
 <table style="width: 100%; border-collapse: collapse; height: 52px;"> 
  <tbody> 
   <tr style="height: 52px;"> 
    <td style="width: 100%; text-align: center; height: 52px;"><a href="https://en.coinotag.com/altcoin-exchange-1333421" target="_blank" rel="noopener"><strong><span style="color: #000000;">- Newly Released Coins With Plenty of Zeros -<br><span style="color: #e67e22;">Click Here to Buy at a Low Fee Before Anyone Else!</span></span></strong></a></td> 
   </tr> 
  </tbody> 
 </table>
</div> 
<ul> 
 <li>Grayscale Bitcoin Trust (GBTC) experiences a significant increase in investor interest following BlackRock’s recent spot Bitcoin ETF application.</li> 
 <li>GBTC’s trading volume has risen by nearly 400% since BlackRock’s application, reaching $80 million from $16.1 million.</li> 
 <li>The price difference between GBTC and Bitcoin has started to narrow down after BlackRock’s application.</li> 
</ul> 
<p><strong>Grayscale’s Grayscale Bitcoin Trust (GBTC) has seen a surge in investor interest after BlackRock recently filed a spot Bitcoin ETF application with the US Securities and Exchange Commission (SEC). The trading volume of GBTC has increased by almost 400% since BlackRock’s application, rising from $16.1 million to $80 million. Additionally, the price difference between GBTC and Bitcoin has started to close rapidly after the application.</strong></p> 
<h2 id="gbtc-s-price-gap-narrows">GBTC’s Price Gap Narrows</h2> 
<p>GBTC’s share price was trading at a significantly lower price compared to Bitcoin due to the market downturn in 2022. However, following the recent developments, GBTC’s price has experienced a positive increase, leading to a decrease in the price difference between GBTC and Bitcoin from 41% to 34.19%.</p> 
<h2 id="bitcoin-s-performance-and-gbtc-s-surge">Bitcoin’s Performance and GBTC’s Surge</h2> 
<p>In the past 24 hours, Bitcoin has shown a performance increase of nearly 8%, while GBTC has experienced a 12% surge. This significant surge in GBTC’s price has contributed to the narrowing of the price difference between GBTC and Bitcoin.</p> 
<h2 id="blackrock-s-etf-application-and-grayscale-s-prospects">BlackRock’s ETF Application and Grayscale’s Prospects</h2> 
<p>Grayscale previously applied to convert Grayscale Bitcoin Trust into a spot Bitcoin ETF, but the request was rejected by the SEC, leading to a lawsuit. If BlackRock’s ETF application is approved, it is believed to be a successful precedent for Grayscale. Furthermore, the ETF applications made by WisdomTree and Invesco after BlackRock’s application have also increased hopes for Grayscale.</p> 
<h2 id="bitcoin-s-recent-performance">Bitcoin’s Recent Performance</h2> 
<p>According to CMC data, Bitcoin has gained 7.5% in value in the last 30 days and has experienced a 7.6% increase in the past 24 hours, currently trading at $28,864.</p>  
<p>The post <a rel="nofollow" href="https://en.coinotag.com/blackrocks-move-and-bitcoins-surge-grayscale-fund-gbtc-benefits-with-massive-growth/">Blackrock’s Move and Bitcoin’s Surge: Grayscale Fund GBTC Benefits with Massive Growth!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG EN</a>.</p>

Blackrock’s Move and Bitcoin’s Surge: Grayscale Fund GBTC Benefits with Massive Growth!

Table of Contents

CO NEWS

Other articles published on Jun 21, 2023

🔒Know Your Transaction #KYT🔍

$BTC Price Breaks $28,000, Up 5.83% Over Last 24 Hours

Blackrock’s Spot Bitcoin ETF Renews Optimism, Triggers Surge in New Filings

Earn Network Raises $2.7M in Seed Funding to Further Develop the Marketplace for Liquid Investments

Zebu Live 2023: London’s Hottest Web3 Event Returns with confirmed Lineup and partnership announc...

$40 billion flows into Bitcoin market cap in 24 hours; Is $30k BTC next?

Join our free newsletter for daily crypto updates!