Bitcoin

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<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!

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