BlackRock's Bitcoin ETF Filing Impacts GBTC Discount and Crypto Market.

The discount on the Grayscale Bitcoin Trust (GBTC) share price to net asset value narrowed to a near one-month low after BlackRock filed for a spot bitcoin exchange-traded fund (ETF). GBTC shares jumped more than 8% over the past 24 hours to near $14, outperforming the digital asset the fund holds. BlackRock's application for a spot BTC ETF could be a game-changer, given its clout and track record. The investment firm has won regulators' approval for ETFs in 575 cases versus a sole denial.