Bitcoin

Grayscale Bitcoin Trust

<h2 id="quick-take">Quick Take</h2>
<p>The Grayscale Bitcoin Trust (GBTC) fund ended the day yesterday, Oct. 16, up 7.7%. The substantial rise took GBTC’s year-to-date gains to a striking 166%. However, concurrently, the discount to Net Asset Value (NAV) has declined below 15% for the first time in the past two years, now standing at 14.77%, according to <a href="https://ycharts.com/companies/GBTC/discount_or_premium_to_nav" rel="noopener noreferrer nofollow">Y charts</a>.</p>
<p>The current price action appears to be a reflection of investor sentiment regarding potential future developments. There is rising speculation that the GBTC fund could transform into a spot Exchange Traded Fund (ETF). This notable shift in market sentiment may be driving the increased activity in GBTC as investors position themselves in anticipation of a possible transition.</p>
<p>As the possibility of a<a href="https://cryptoslate.com/sec-will-not-appeal-grayscale-decision-bringing-spot-bitcoin-etfs-closer-to-reality/" rel="noopener noreferrer nofollow"> spot ETF</a> becomes increasingly plausible, financial markets may witness further volatility within the digital asset class.</p>
<figure id="attachment_365526" aria-describedby="caption-attachment-365526" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-365526 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/ychart.png" alt="GBTC Discount or premium to NAV: (Source: ycharts.com)" width="1053" height="342" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/ychart.png 1053w, https://cryptoslate.com/wp-content/uploads/2023/10/ychart-300x97.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/ychart-1024x333.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/ychart-768x249.png 768w" sizes="(max-width: 1053px) 100vw, 1053px">
 <figcaption id="caption-attachment-365526" class="wp-caption-text">
  GBTC Discount or premium to NAV: (Source: ycharts.com)
 </figcaption>
</figure>
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/for-the-first-time-in-two-years-gbtc-discount-to-nav-drops-below-15/">For the first time in two years, GBTC discount to NAV drops below 15%</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

For the first time in two years, GBTC discount to NAV drops below 15%

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