Grayscale, a cryptocurrency asset management firm, made headlines for its landmark win against the US Securities & Exchange Commission (SEC). Grayscal
The discount on GBTC has narrowed. As of early Friday, GBTC is trading at a 20.62% discount. The discount is deeply correlated with the supply and demand for GBTC shares. It is, therefore, likely that an approval of a spot Bitcoin ETF by the SEC drives demand for the shares higher and pushes GBTC from discount to premium territory.
The crypto market lost 3.5% in 24 hours, again falling below $1.05 trillion. The formal start of the sell-off was the news that the SEC had delayed its review of bitcoin ETF applications.Bitcoin ended August down 11% at $26K, its worst performance since last November and the second consecutive month of declines.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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