Grayscale Bitcoin Trust’s impressive surge a potential indicator for spot ETF approval

2023-10-11 11:55

Quick Take

The Grayscale Bitcoin Trust (GBTC) has emerged as one of the top performers in the crypto market, charting a 150% increase this year. This triumphant rise has outshone significant players such as Bitcoin, up by 64%, and Ethereum, up by 29%. An array of Bitcoin mining stocks, Coinbase and Microstrategy, were also trailed in the wake of GBTC’s ascent.

The discount of GBTC to Net Asset Value (NAV) has contracted to 16%, the smallest measure since the latter half of 2021. This contraction may be a strategic indicator of the market’s evolving dynamics.

Since June 2023, GBTC’s performance has notably outstripped Bitcoin, a trend that could potentially be interpreted as a premonition of a future approval for a spot Exchange Traded Fund (ETF). However, the validity of such an interpretation hinges on a forthcoming decision from the U.S. Securities and Exchange Commission (SEC). The crypto market, therefore, teeters on the edge of this pivotal decision, with the future path of GBTC and other assets hanging in the balance.

Crypto Assets: (Source: Trading View)

 

The post Grayscale Bitcoin Trust’s impressive surge a potential indicator for spot ETF approval appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97652.97 (-0.19%)
Объем 24H $96.721b
Изменеия 24h: 3.47 %, 7d: 7.52 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1932.106b Rank 1
Цена в час новости $ 27087.9 (260.5%)

bitcoin grayscale trust charting triumphant year increase

Источник: cryptoslate.com

bitcoin grayscale → Результатов: 126


Grayscale Spot Bitcoin ETF Turns Positive After $17.5 Billion In Outflows, Sees Inflows For The First Time

In a rather shocking development, Grayscale Bitcoin Trust (GBTC) has recorded its first-ever inflow after witnessing significant daily outflows since its launch.  Grayscale Bitcoin ETF Records Over $60 Million In Inflows Grayscale’s Spot Bitcoin ETF has finally broken its 82-day streak of outflows since its launch on January 11, 2024. GBTC saw its first day […]

2024-5-5 03:00


Фото:

Суд разрешил криптокредитору Genesis продать акции фонда Grayscale Bitcoin Trust на $1,3 млрд

Суд по делам о банкротстве Южного округа Нью-Йорка удовлетворил ходатайство обанкротившегося криптокредитора Genesis Capital, просившего разрешить ради погашения долгов перед кредиторами продать акции фонда Grayscale Bitcoin Trust (GBTC) на $1,3 млрд.

2024-2-16 23:20


Grayscale Bitcoin Trust Holdings Are Spread Over 1,750 Wallet Addresses, Arkham Finds

Crypto analytics platform Arkham Intelligence claims to have found on-chain addresses associated with the Grayscale Bitcoin Trust. This revelation comes amidst the ongoing battle between asset management firm Grayscale and the United States Securities and Exchange Commission (SEC) over converting the Bitcoin Trust into a spot exchange-traded fund (ETF). The Grayscale Bitcoin Trust, with the […]

2023-9-8 16:00


Grayscale wins court battle against SEC; Bitcoin jumps 6% within first hour after ruling

In a landmark ruling on August 29, 2023, the United States Court of Appeals for the District of Columbia Circuit vacated an order from the Securities and Exchange Commission (SEC), granting Grayscale Investments LLC a long-awaited victory in its lawsuit over the conversion of its Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF).

2023-8-29 17:47


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Lingo: Real-World Assets Fuel Blockchain Rewards

Discover Lingo’s Web3 platform combining real-world assets and blockchain rewards. Earn $LINGO tokens and redeem real-life prizes from top brands globally. The post Lingo: Real-World Assets Fuel Blockchain Rewards appeared first on NFT News Today.

5 Memecoin Trends to Watch in 2025

Explore emerging memecoin trends, including NFT integration, metaverse adoption, AI incorporation, and gamified experiences, shaping the cryptocurrency landscape. The post 5 Memecoin Trends to Watch in 2025 appeared first on NFT News Today.

Furahaa Taps Growing Vegan Market with New INX Token Listing

Furahaa Group launches FURA tokens on INX, offering fractional ownership in its plant-based business and expanding access for global investors through blockchain technology. The post Furahaa Taps Growing Vegan Market with New INX Token Listing appeared first on NFT News Today.