Bitcoin

Grayscale Bitcoin Trust

<h2 id="quick-take">Quick Take</h2> 
<p>The Grayscale Bitcoin Trust (GBTC) has recently demonstrated a remarkable performance, closing at year-to-date highs and marking a 266% increase YTD. Notably, GBTC and BTC exhibited parallel movements during the first half of the year.</p> 
<p>Since June 2023, a distinct divergence has emerged within the crypto market. During this period, the Grayscale Bitcoin Trust (GBTC) has surged impressively, recording a 92% increase. Conversely, Bitcoin (BTC), while still exhibiting a growth trend, trailed behind at a 25% rise. Fueling this divergence is the ongoing speculation and anticipation of a potential<a href="https://cryptoslate.com/hester-peirce-says-sec-shouldnt-block-spot-bitcoin-etfs-speaks-on-binance-resolution/"> spot ETF</a> for Bitcoin, reflected in the -9.89 discount to NAV for GBTC.</p> 
<p>In the same timeline, other crypto equities, such as Coinbase and Microstrategy, fell short of matching GBTC’s feat. Despite being on the cusp of reaching their year-to-date highs, they have not yet managed to breach this threshold.</p> 
<figure id="attachment_376210" aria-describedby="caption-attachment-376210" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-376210 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-1.png" alt="GBTC: (Source: Trading View)" width="1410" height="1003" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-1.png 1410w, https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-1-300x213.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-1-1024x728.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-1-768x546.png 768w" sizes="(max-width: 1410px) 100vw, 1410px">
 <figcaption id="caption-attachment-376210" class="wp-caption-text">
  GBTC: (Source: Trading View)
 </figcaption>
</figure> 
<p>The post <a href="https://cryptoslate.com/insights/grayscale-bitcoin-trust-achieves-record-ytd-high-outperforming-bitcoin/">Grayscale Bitcoin Trust achieves record YTD high, outperforming Bitcoin</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.</p>

Grayscale Bitcoin Trust achieves record YTD high, outperforming Bitcoin

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