Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<h2 id="quick-take">Quick Take</h2>
<p>The Purpose Bitcoin ETF has carved out an impressive track record over the past few months. The ETF currently holds 34,263 BTC, setting new highs in 2023. To underscore the significance of this upward trend, it is worth noting that out of the previous 47 trading days, a striking 40 have documented inflows, indicating a sustained positive momentum.</p>
<figure id="attachment_376848" aria-describedby="caption-attachment-376848" style="width: 100%" class="wp-caption aligncenter">
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  Purpose Bitcoin ETF Holdings: (Source: Glassnode)
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<p>Additionally, the Grayscale Bitcoin Trust (GBTC) displays a similar narrative. As of Nov. 24, GBTC is up 280% year-to-date, while it currently trades at approximately an -8.42% discount to its net asset value (NAV). This figure represents the smallest discount to NAV observed this year. It harks back to a similar low in mid-2021 when the premium flipped to a discount. Interestingly, just a year ago, in November 2022, the discount to NAV was significant, at -50%.</p>
<figure id="attachment_376847" aria-describedby="caption-attachment-376847" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-376847 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-2.png" alt="GBTC vs BTCUSD: (Source: Trading View)" width="1410" height="883" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-2.png 1410w, https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-2-300x188.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-2-1024x641.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/GBTC-2-768x481.png 768w" sizes="(max-width: 1410px) 100vw, 1410px">
 <figcaption id="caption-attachment-376847" class="wp-caption-text">
  GBTC vs BTCUSD: (Source: Trading View)
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<p>The post <a href="https://cryptoslate.com/insights/purpose-bitcoin-etf-hits-record-holdings-in-2023-as-grayscale-trust-narrows-discount/" rel="noopener noreferrer nofollow">Purpose Bitcoin ETF hits record holdings in 2023 as Grayscale trust narrows discount</a> appeared first on <a href="https://cryptoslate.com" rel="noopener noreferrer nofollow">CryptoSlate</a>.</p>

Purpose Bitcoin ETF hits record holdings in 2023 as Grayscale trust narrows discount

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