BlackRock's Bitcoin ETF Filing Boosts Grayscale Trust and Cardano Creator's Prediction
TL;DR Summary
The Grayscale Bitcoin Trust (GBTC) almost hit new 2023 highs as BlackRock filed to launch a Bitcoin spot price exchange-traded fund (ETF), sparking a rally in the institutional BTC investment vehicle. GBTC long trades at a major discount to BTC spot, which is on the way up, but the discount is currently at -36.6%, closer to zero than at almost any time this year. Hedge fund North Rock Digital has been accumulating more of the Grayscale trusts consistently over the last several weeks, while ARK Invest continues to hold around 5.37 million GBTC shares.
Topics:business#bitcoin#blackrock#cryptocurrency#etf#grayscale-bitcoin-trust#institutional-investment
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