Grayscale, a cryptocurrency asset management firm, made headlines for its landmark win against the US Securities & Exchange Commission (SEC). Grayscal
win against the US SEC marked a key milestone for the asset manager in its journey toward launching the spot Bitcoin ETF for investors. While there is time for the regulator to review and appeal the ruling, the lawsuit had its impact felt in the crypto ecosystem.
GBTC shares that have been trading at a discount for nearly two years witnessed an increase in demand among institutional investors. This narrowed the GBTC discount. When the world’s largest asset manager, BlackRock, filed its spot Bitcoin ETF application, the GBTC discount started to narrow consistently.discount has narrowed from 43.3% on June 15 to 20.6% on September 1, based on data from Coinglass. The GBTC discount is correlated with the demand for Grayscale’s shares.
As of September 1, the SEC has delayed its decision on the spot Bitcoin ETF applications of BlackRock, Wisdom Tree Funds, Invesco, Galaxy Digital and Valkyrie Funds.An Exchange-Traded Fund is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.Yes.
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